The European Commission adopted on Thursday final conditions attached to the sale of the former Aleris aluminium plant in Duffel, Belgium, by U.S.-based Novelis, after Novelis failed to meet the initial deadline for the sale of the unit.
Novelis, a world leader in aluminium rolled products and aluminium recycling, was obliged to sell the Duffel plant as part of the conditions under which the EU allowed it to buy Aleris for $2.6 billion in 2019. But it missed the deadline to do so, despite an extension.
“The decision adopted today will ensure that competition is preserved by imposing final measures on Novelis,” the European Commission said in a statement.
Under the final measures Novelis cannot buy back the Duffel plant or even parts of it and cannot solicit the plant’s customers or standing orders. Should Novelis not comply, the Commission could impose daily fines on it.
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