- Associated Press - Friday, October 3, 2014

MUSCLE SHOALS, Ala. (AP) - Amsterdam-based Constellium Aluminum has purchased Wise Metals in Muscle Shoals for $1.4 billion.

The companies announced the deal Friday, and Constellium said it plans to invest up to $750 million by 2022 to increase Wise’s capacity. Wise describes itself as the world’s third-largest producer of aluminum for beverage cans, and its customers include Budweiser. Constellium said Wise is ideally suited to serve auto plants in the Southeast.

Wise is the largest employer in Muscle Shoals with 1,500 workers.

Wise’s chairman and largest stockholder, Connecticut industrialist David D’Addario, said Constellium has the technological and financial ability to take Wise to the next level.

The companies said the sale should close around the first of the year.

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