European value-added aluminium firm Constellium NV said yesterday it has been chosen to be part of the latest iteration of the Russell 3000 Index beginning toward the end of this month.
Per the firm, FTSE Russell captures the top 4 thousand United States stocks as of early May and ranks them by market capitalization. As a part of the Russell 3000 index, Constellium will qualify for inclusion in either the Russell 1000 Index of large-cap firms or the Russell 2000 Index of small-cap firms.
Jean-Marc Germain, CEO of Constellium, highlighted the importance of the listing in a related press release.
“Joining the Russell Indexes is an important milestone, which we believe will broaden our overall investor awareness and our exposure within the investment community. Steps like this demonstrate our continued commitment to shareholder value creation as part of the execution of our strategy.”
FTSE Russell operates thousands of indexes across dozens of countries. The firm determines its indexes primarily by objective market-cap rankings and other public attributes.
Constellium, based in Amsterdam, was founded 1855 as Henri Merle et Compagnie and subsequently renamed Pechiney in 1950. Pechiney was purchased by Alcan in 2003, which was purchased by Rio Tinto in 2007. In 2011 Rio Tinto sold Alcan Engineered Products to Apollo Management (51%) and FSI (10%). Constellium produces rolled and extruded aluminium products from various alloys, bringing in €4.9 billion of revenue in 2020.