Global producer of aluminum rolled products Novelis has completed the sale of three European aluminum foil and packaging plants to American Industrial Acquisition's (AIAC) unit Eurofoil.
The transaction includes foil rolling operations in Rugles, France; Dudelange, Luxembourg; and Berlin, Germany, which will operate as Eurofoil France, Eurofoil Luxembourg, and Eurofoil Paper Coating, respectively.
Novelis Europe president Tadeu Nardocci said the three plants no longer fit within the Novelis business strategy but are good operations.
"Novelis is focused on growing in the premium markets of beverage cans, automobiles and specialty products, and on expanding its recycling leadership," Nardocci added.
Eurofoil will now supply aluminum foil in Europe from its two plants in Dudelange, Luxembourg, and Rugles, France, as a result of the acquisition.
Novelis, a subsidiary of Hindalco Industries supplies aluminum sheet and foil products to packaging, automotive, transportation, construction, industrial, electronics and printing markets throughout North America, Europe, Asia and South America.