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13 +3 Al ways a step ahead Contents Think about aluminium. 6 Locked inside an atom of aluminium, EXPLORING THE FUTURE 8 • Shaping the future through innovation is a world of opportunities. Constellium’s 10 • Voreppe, Constellium’s mission is to unlock that potential and to 2 melting pot for ideas INTRODUCTION transform aluminium from a molten metal 2 • 2011 at a glance 12 • Innovation Cells, a new 4 • Interview with Pierre Vareille look at innovation into a vast range of advanced technology 14 • Interview with Professor products for our customers. Francesco Stellacci Innovative ideas are vital for exploring the future and the groundbreaking technologies. At Constellium, we constantly strive to give shape to ideas by drawing on our teams of talented experts, our reputation for manufacturing know-how 16 and our close partnerships with customers. MATERIALIZING IDEAS 18 • Aluminium, the strengths By turning creativity into technology, of a 21st century material we materialize ideas so that our customers 20 • Global ATI, shaping the sky 24 • SSH, leading the way in key markets from industries including aerospace, 28 • EAS, promising trends automotive and packaging get the high value 32 • Recycling, aluminium’s ace card solutions they are looking for. Throughout this 34 process, our focus is on delivering excellence DELIVERING EXCELLENCE in everything we do and making sure that 36 • Interview with Peter Basten we deliver on our commitments. It’s all 38 • EHS, putting safety at the top of the agenda about dedication and imagination. In action. 40 • Health and safety at work 42 • Protecting the environment Introduction Key fi gures Evolution 2009/2011 Sales (€M) Volumes (KT) 4 1200 3,555 1000 1.058 3 973 2,957 800 871 2 2,292 600 400 1 +29% +20% +12% +9% vs vs 200 vs vs 2009 2010 2009 2010 0 0 2009 2010 2011 2009 2010 2011 Key fi gures (Dec. 31st, 2011) 2011 sales breakdown by business unit 2011 FTE breakdown by geographic area 45% Specialty Sheet 48% France 30% Global ATI 22% Germany 25% Extrusions & 10% Switzerland Automotive Structures 6% Czech Republic 1% Slovakia 11% USA 2% Asia (China, Japan, Korea, Singapore) 2011 sales breakdown by end-market 2011 FTE breakdown by business segment With over 9,000 employees, Constellium has three business 2011 units: Global Aerospace, Transportation and Industry (Global 34% Packaging 38% Global ATI ATI), Specialty Sheet and Extrusions & Automotive Structures, 15% Aerospace 24% Specialty Sheet which are supported by a world-class research center in Voreppe, 11% Automotive 34% Extrusions & at a glance France, and a strong Research and Technology organization. 13% Other transportation Automotive Structures Constellium is recognized as the world leader in aerospace 12% Industry 4% Corporate and R&D In markets as diverse as aerospace, plates, general engineering plates, closure sheets and bright 9% Building sheets and as the European leader in can body stock and large automotive, construction, packaging, 6% Other energy and transportation, Constellium profi les. Constellium, which has its operational headquarters is uniquely positioned to deliver innovative, in Paris, France, generated sales of €3.6 billion in 2011. invaluable, world-class aluminium 2011 sales breakdown by geographic area products and solutions. (Country of invoice) 15% France 9,280 28% Germany EMPLOYEES 19% United Kingdom 3% Switzerland 2007 16% Other Europe 22 11 RIO TINTO 12% North America MANUFACTURING COUNTRIES ACQUIRES 5% Asia & Oceania SITES ALCAN CONSTELLIUM 2% Rest of the world MILESTONES Shareholding 1 1999 2003 structure ALCAN ACQUIRES ALCAN ACQUIRES 2011 51% APOLLO R&D CENTER ALUSUISSE PECHINEY RIO TINTO DIVESTS 39% RIO TINTO ALCAN ENGINEERED PRODUCTS 10% FSI ALCAN EP BECOMES CONSTELLIUM 2 3 Introduction Interview with Pierre Vareille and notably China, has driven growth, though weakness in the safe and sound, and for Constellium to be the industry benchmark construction industry made it a diffi cult year for extrusions. And for safety. We also need a step change in how we serve custom- last but not least, can stock, our main product in Specialty Sheet, ers, by supplying products that almost never lead to a claim and once again achieved record volumes. are delivered on time. As for growth, there are huge opportunities in our strategic areas of aerospace, but also in the automotive What are the prospects looking ahead to 2015? industry, where aluminium was once for niche markets but is P.V.: They are promising, for some fundamental reasons. In almost increasingly used in volume cars. In packaging, if we continue every fi eld of manufacturing industry, aluminium is gaining ground to improve our service to customers, we will continue to gain over other metals and materials. What’s more, Constellium is market share. Overall, our target is to triple EBITDA by 2015 and focused on the value-added segments of markets which are to signifi cantly improve our cash fl ow. Finally, to drive innovation, enjoying real growth and will most probably continue to do so. we will keep investing in R&D to create the breakthrough products So although we live in a world of uncertainties, our multi-year of 2020 and 2030. We have had great success in aerospace with contracts with key customers like Airbus, Boeing and major can- AIRWARETM; now we need its automotive equivalent. makers do give us visibility. Our aerospace prospects refl ect the present market conditions because airlines need to modernize Looking back, what’s your view of 2011? their fl eets with lighter planes that consume less fuel,and they The power Pierre Vareille: It was a year of transition, a very important one. also need to expand those fl eets in areas like Southeast Asia, I have formed Our main shareholder changed from a corporation to a private where tourism is booming. In automotive, China is now the world’s the unbreakable conviction equity company, our name became Constellium and we reorgan- largest market and German cars – which use more aluminium – of change ized the business to improve our operations and our cost position, are the preferred choice. Can stock will also continue its steady that we will, all together, create which is the absolute condition to conquer new customers. That growth. one of the jewels of the European Pierre Vareille, Constellium’s Chairman included the divestment of AIN, so we are now totally dedicated manufacturing industry. and Chief Executive Offi cer, looks at to aluminium transformation. We also rolled out our investment What are your strategic aims? the achievements of the past year plan, which includes new casthouses at Voreppe and Issoire for P.V.: We have three key objectives, the fi rst being to focus on our and the challenges that lie ahead. our AIRWARETM technology. Meanwhile, the chairman and chief chosen growth segments – aerospace, automotive, packaging Safety, customer focus and innovation executive roles were merged, and I’m both proud and honored and industry. Geographically, we are looking for opportunities What kind of Constellium would you like to see to hold this new position. All in all, it has been a challenging year, to expand our global footprint, in Asia in particular. The second in fi ve years’ time? are among the key priorities. because change is rarely easy; but change we must. objective is to create product leadership, based on innovative P.V.: I want us to be even more rigorous. I also want to decentral- technologies that really are differentiating. The third is excellence ize decision-making – so that decisions are taken at the lowest How did Constellium perform as a business? in our operations, through Lean transformation and the Constellium possible level – and to create a system of continuous improve- P.V.: Overall, it was quite positive. Sales grew 20%, reaching over Business System. Together with our strong focus on sustainabil- ment, one where everyone takes part and infl uences their work €3.5 billion, and we delivered increases in EBITDA and cash fl ow. ity and recycling, it’s a strategy we believe will help us achieve environment. In short, I want to create an entrepreneurial spirit, Production rose by about 10%, to more than 1 million metric tons. our four True North Goals. so that people take risks and put themselves and their ideas In short, it was a period of recovery after two very diffi cult years, forward. I am very optimistic about the future: throughout all my due to the general economic climate. For Global Aerospace, And what are those goals? site visits and all my meetings with our employees, I have formed Transportation and Industry, the aerospace sector is growing P.V.: They concern Environment, Health and Safety, customer the unbreakable conviction that we will, all together, create rapidly again after a tough 2008-09, and we sealed important focus, organic growth and innovation. I put EHS FIRST, our com- one of the jewels of the European manufacturing industry. contracts with our key customers. For Extrusions & Automotive prehensive approach to Environment, Health and Safety, as our Structures, the strong performance of German carmakers in Asia, absolute priority. We want everyone to return home from work 4 5 Exploring the future 8 Shaping the future through innovation 10 Voreppe, Constellium’s melting pot for ideas 12 Innovation Cells, a new look at innovation 14 Partnerships, the science of working together 7 Exploring the future Innovation A world of potential with Open Innovation To deliver on our strategy, Constellium has created an eco- system for Open Innovation. It’s open, because we believe not just in the expertise of our own scientists, engineers and marketing teams, but also in partnerships with the world outside. At the center of this ecosystem is our advanced R&D facility at Voreppe in France, a world-leading resource for Innovation is one of the True North Goals of Constellium’s Constellium business units but also for carrying out joint Shaping corporate strategy.