Constellium signs long-term agreement with Lotte Infracell and invests to increase capacity at its Singen facility to supply foilstock for battery applications in Europe

PARIS, July 23, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) announced today that it has signed a long-term agreement with Lotte Infracell, a subsidary of Lotte Aluminium, a leading provider of aluminium solutions, to supply foilstock for Lotte's battery foil applications in Europe. This partnership highlights Constellium's commitment to the growing electric vehicle (EV) market and its strategic focus on cutting-edge automotive aluminium solutions.

Under this agreement, Constellium will supply high-quality foilstock from its Singen site in Germany. With Lotte Infracell’s financial support, Constellium is planning to invest around €30 million in new finishing lines at its Singen facility to enhance production capacity, creating around 20 new jobs in the process. This strategic investment is expected to further cement Constellium Singen's position as a key player in the aluminium automotive specialties market.

“We are thrilled to collaborate with Lotte Infracell and supply their European operations with our high-quality foilstock,” said Jean-Marc Germain, CEO of Constellium. “This partnership is a testament to Constellium's expertise in developing cutting-edge aluminium solutions for the growing electric vehicle market. Our investment in the Singen site underscores our commitment to innovation and our dedication to meeting the evolving needs of our customers.”

“We are excited to partner with Constellium, a renowned leader in aluminium automotive specialty solutions,” said Mr. Yon Su Choi, CEO of Lotte Aluminium and Lotte Infracell. “This collaboration will ensure a reliable supply of high-quality foilstock for our battery applications, supporting the rapid growth of the electric vehicle market in Europe.”

Aluminium's lighter weight, conductivity, chemical stability, and lower cost provide a balanced combination of properties that are particularly advantageous for the large-scale production of batteries for electric vehicles. Constellium’s innovative aluminium products are well-suited to meet the demands of this dynamic market, providing superior performance and contributing to the overall sustainability of electric vehicles.

About Constellium

Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value-added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €7.2 billion of revenue in 2023.
www.constellium.com

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