Update Le Valais - October 31, 2024

Update le Valais – October 31, 2024

Following the unprecedented flooding in the Valais region of Switzerland, which devastated the Sierre region, including industrial activities at Constellium and elsewhere, our plate and extrusion shops in Sierre and the casthouse in Chippis were severely flooded, and operations were suspended. The Sierre and Chippis facilities were under four to five feet of water at the crest, and it took more than six weeks to restore power to the site.

As of today, cleaning efforts are well on the way, with a strong focus on safety and efficiency. As of mid-October 2024, operations have partially resumed, and we anticipate restarting full operations in both our extrusion and plate shops by the end of November 2024. We currently aim to complete the production ramp up for the extrusion and plate business by the end of the first quarter of next year.

Mitigation plans have been implemented, including transferring some production to other facilities. We are actively discussing with local authorities to secure the site against future flooding and ensure its long-term viability.

We are proud of our team on the ground and thank them for the incredible progress they have made in a short period of time against significant odds.