New Day Aluminum Holdings LLC disclosed that the European Commission has given its approval to New Day’s acquisition of all the share capital of ARC Fused Alumina from Mircal SA, a subsidiary of Imerys SA fully and directly owned by it.
Mircal was required by the EC to divest this business as a condition to its 2016 acquisition of certain assets from Alteo Holding. The New Day transaction, which is expected to close in Q4 2017, is still subject to certain closing conditions.
ARC Fused Alumina, located in La Bâthie, France, employs over 150 workers and operates a facility producing white fused alumina, bubble alumina, Abral® and silicon nitrates. The company’s products have multi-application uses in the ceramics, flooring, abrasives and refractory industries.
David D’Addario, chief executive officer of New Day, commented, “We are excited at the opportunity to acquire this asset, which we expect will position New Day for more acquisition activity and integration on a global scale. The acquisition will help diversify New Day’s portfolio both geographically and in product mix. La Bâthie fits well into New Day’s business model, as it will serve not only as an entré to a new market sector, but as a potential customer of our U.S. refinery operations as well.”
Published in the November 2017 Edition of American Recycler News
