U.K. entrepreneur Sanjeev Gupta's GFG Alliance Ltd. continued efforts to consolidate its industrial businesses, forming a new group that will house the company's aluminum assets.
Paris-based ALVANCE Aluminium Group will comprise the Dunkerque aluminum smelter in France and the Fort William aluminum smelter in Scotland.
The Duffel aluminum rolling facilities in Belgium will also be part of the new entity. In December 2019, GFG Alliance agreed to acquire the plant from Novelis Inc. The deal remains subject to approval by European antitrust regulators.
ALVANCE's portfolio will also include aluminum wheels manufacturer ALVANCE Wheels and engine cast part producers ALVANCE Aluminium Technologies Poitou and ALVANCE Cast Products Poitou.
ALVANCE will also share GFG Alliance's goal of becoming carbon neutral by 2030 by adopting a cleaner process for producing aluminum.
The new group, which will employ over 1,700 people, is in the process of appointing a board of directors, according to a Jan. 20 news release.