Russian Federation aluminium giant UC Rusal announced last week the completion of its purchase of Aluminium Rheinfelden GmbH thanks to the sign-off on the transaction by the German government.
Regulators at the German Federal Cartel Office and the German Federal Ministry for Economic Affairs and Energy approved of the transaction this month, paving the way for the company’s high-end, specialty manufacturing to supplement Rusal’s overall portfolio.
Rusal says Aluminium Rheinfelden will continue to service the automotive market, and it has already announced plans to rebuild the business to offer low-carbon alternatives to the sector, utilizing Rusal’s ALLOW low-carbon aluminium product.
Roman Andryushin, Sales and Marketing Director at Rusal, said in a press release that he looks forward to a new era for Aluminium Rheinfelden.
“We are very pleased that we have completed the acquisition today where we have not only been able to save a traditional German company, but can also offer Aluminium Rheinfelden and its employees a promising future under the umbrella of RUSAL. We are aware of our responsibility as a new shareholder and partner of Aluminium Rheinfelden and look forward to the future with confidence where our joint market presence will create shareholder value, stability and growth for the Company. Not only does the transaction secure the future of all three business units of Aluminium Rheinfelden, but also, the Company’s customers will benefit from RUSAL’s low-carbon aluminium ALLOW and from the breakthrough inert anode technology, which drives the industry into a new chapter of carbon-free aluminium.”
“Operating within RUSAL will allow Aluminium Rheinfelden to unleash its full potential and to scale-up its operations,” explained Eric Martinet, CEO of Aluminium Rheinfelden. “As part of a well-capitalised business with a global scale, Aluminium Rheinfelden can now build up its footprint in its existing core automotive sector and target new market niches, thus further strengthening our combined market position. Importantly, our customers will benefit from access to a reliable supply of high-quality, aluminium products with the lowest carbon footprint. I am pleased to welcome the Aluminium Rheinfelden management team alongside the Company’s excellent employees and look forward to working together.”