DADA Holdings acquires majority stake in Italy’s Niche Fusina Rolled Products

The partners of DADA Holdings, LLC, announce that their affiliate, Niche European Holdings, LLC, has acquired a controlling stake in Niche Fusina Rolled Products S.r.l., which operates an aluminium rolling mill and related facilities in Fusina, Italy, just outside of Venice.

Invitalia, the Italian government agency responsible for promoting inward investment and enterprise development throughout the country, is Niche Fusina's other remaining shareholder.

DADA first acquired a minority stake in Niche Fusina in March 2022, in a sale approved by the Court of Venice in an insolvency proceeding.

Niche Fusina is DADA's second foray into the aluminium rolling business; their first was Wise Metals Group, which they transformed into the world's third largest producer of can sheets for the beverage industry before selling to Constellium NV in 2015 for $1.4 billion.

Niche Fusina is a vertically integrated operation with a cast house, rolling mills and finishing lines. The facility employs roughly 300 people and has a rolling capacity of approximately 75,000 tons per year and a slab production capacity of 95,000 tons per year.

The facility boasts several sustainability initiatives, including the extensive use of recycled aluminium, a low-carbon certification, and a closed-loop system that treats and recirculates the facility’s process water to eliminate waste and minimize water consumption. Niche Fusina produces medium and hard alloys covering a gauge range from 2mm to 110mm and a width of up to 2500mm and serves customers in the marine, commercial transportation, electronics, building and automotive industries throughout Europe, North America, the Mideast and the Pacific Basin.

David D'Addario, the Chairman of DADA, said, "Our assumption of the controlling interest in Niche Fusina demonstrates our commitment to this valuable operation in Italy and coordinates with our vision for significant growth in the aluminium industry in the years to come."

"We look forward to our continued relationship with Invitalia. We appreciate the trust and confidence the Italian government has placed in us to strengthen Niche Fusina's world-class casting and rolling operations. We also look forward to doing more work in Italy to assist Invitalia in its strategic and business investment objectives."