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Constellium Paris: Constellium Reports Fourth Quarter and Full Year 2020 Results

Constellium Paris: Constellium Reports Fourth Quarter and Full Year 2020 Results
Fourth quarter 2020 highlights:
Revenue of €1.2 billion, down 9% compared to Q4 2019
Net income of €26 million compared to net income of €22 million in Q4 2019
Adjusted EBITDA of €111 million, down 8% compared to Q4 2019
Cash from Operations of €71 million and Free Cash Flow of €28 million
Full year 2020 highlights:
Revenue of €4.9 billion, down 17% compared to 2019
Net loss of €17 million compared to net income of €64 million in 2019
Adjusted EBITDA of €465 million, down 17% compared to 2019
Cash from Operations of €334 million and Free Cash Flow of €157 million
Net debt / LTM Adjusted EBITDA of 4.3 at December 31, 2020
Jean-Marc Germain, Constellium s Chief Executive Officer said, Constellium delivered resilient results in 2020 despite the significant challenges presented by the COVID-19 pandemic. We reacted quickly to the cris ....

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Business, labor groups turn to Congress for infrastructure appeal

Business, labor groups turn to Congress for infrastructure appeal
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United Steelworkers betrays Constellium strike in Alabama after weeks of isolating workers

United Steelworkers betrays Constellium strike in Alabama after weeks of isolating workers
Workers at Paris-based aluminum sheet manufacturer Constellium in Muscle Shoals, Alabama were sent back to work Tuesday after they approved a five-year contract brought back by the United Steelworkers (USW), ending a nearly month-long strike. More than 400 aluminum workers at the plant walked out December 15 after voting near-unanimously to strike against unfair labor practices, including unsafe working conditions, threats by the company to end seniority rights, and cuts to health care benefits.
Constellium plant in Muscle Shoals, Alabama (Credit: Constellium.com)
Both the vote totals and substantive details of the contract have not been made public by the USW, in line with its policy of isolating the struggle of the Constellium workers. ....

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United Steelworkers end strike after reaching deal with Constellium

United Steelworkers end strike after reaching deal with Constellium
Striking workers meet with steel company
By Russ Corey and WAFF 48 Digital Staff | January 12, 2021 at 9:03 AM CST - Updated January 12 at 9:09 AM
MUSCLE SHOALS, Ala. (WAFF) - United Steelworkers voted Monday to ceased their strike after they ratified a new, five-year collective bargaining agreement with Constellium.
, Kevin Key, United Steelworkers International staff representative for Local 200, said the new agreement had some built-in protections, such as shift preferences based on seniority to help protect workers’ seniority.
They were also able to preserve items that were already in the contract, such as 15% raises and the elimination of the wage tier. The strike included nearly 400 members of USW Local 200; the strike began December 15 after months of negotiations with management failed. ....

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Constellium union workers picket after walking off job

Constellium union workers picket after walking off job
Source: WAFF (Source: WAFF)
By WAFF 48 Digital Staff | December 16, 2020 at 2:54 PM CST - Updated December 16 at 4:14 PM
HUNTSVILLE, Ala. (WAFF) - Workers at an aluminum manufacturing plant in Muscle Shoals are on strike this afternoon.
Nearly 100 workers at Constellium’s plant are partaking in the strike against the company. The plant parking lot is empty Wednesday afternoon, and employees are outside holding signs. WAFF’s DeAndria Turner provided a picture of workers striking.
Constellium workers walk off the job to strike @waff48pic.twitter.com/ShjrCZd40n DeAndria Turner WAFF 48 (@deandria turner) December 16, 2020 ....

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