New Day Completes Purchase of French Firm ARC Fused Alumina
06 November 2017 by Staff
Florida’s New Day Aluminum Holdings LLC announced last week the acquisition by its Dutch subsidiary of a fused-alumina plant in southeastern France. No details regarding purchase price were released by New Day in its announcement.
According to the firm, New Day acquired the entirety of share capital of ARC Fused Alumina from French multinational industrial materials firm Imerys S.A.’s subsidiary Mircal S.A. after Mircal was commanded to divest ARC by the European Commission upon Mircal’s acquisition of assets from France’s Alteo Holding.
New Day indicates that its purchase of ARC has already been formally approved by the European Council, and that all closing conditions have been completed, including consulting with ARC’s Works Council.
New Day’s CEO David D’Addario said the purchase opened the door to new markets for his firm.
“We are pleased to welcome the ARC Fused Alumina business and its employees to the New Day family, and excited for the opportunity to build upon the rich 120-plus year history of the La Bâthie based business. This acquisition helps diversify New Day’s portfolio, both geographically and in product mix. La Bâthie provides us entry into a new market sector while better positioning New Day for more acquisition activity and integration on a global scale.”
ARC currently employs over 150 individuals and produces several specialty alumina products, including white-fused alumina, bubble alumina, and silicone nitrates, among others. ARC’s products are used in several areas, including ceramics, flooring, abrasives, and in refractory applications.
Parent company to smelter-grade alumina and chemical-grade alumina producer Noranda Alumina and global bauxite shipper Noranda Bauxite, New Day was created by the partners of DADA Holdings, which is an investment firm located in Ft. Lauderdale, Florida.