BEACHWOOD, Ohio, July 2 /PRNewswire/ -- Aleris Light Gauge Products, a
business unit of Aleris International, Inc., announced today that it has
declared force majeure with respect to its operations at its Cap de la
Madeleine, Quebec aluminum rolling mill facility. Operations at the
facility ceased earlier today as a result of the lock out of the unionized
production work force.
The unionized production workforce at the facility has been working
without a contract since February 1, 2008 when the previous collective
bargaining agreement expired. Negotiations between representatives of
management and the union have failed to produce a new agreement.
The lock out was announced to union representatives earlier today and
became immediately effective. The resulting force majeure will remain in
place until such time as the lock out is resolved. Aleris cannot predict
how long the force majeure may last. Customers are encouraged to contact
their normal sales and customer service representatives with any questions
they may have about existing orders.
About Aleris
Aleris International, Inc. is a global leader in aluminum rolled
products and extrusions, aluminum recycling and specification alloy
production. Headquartered in Beachwood, Ohio, a suburb of Cleveland, the
Company operates 47 production facilities in North America, Europe, South
America and Asia, and has approximately 8,800 employees. For more
information about Aleris, please visit our Web site at
http://www.aleris.com
SAFE HARBOR REGARDING FORWARD-LOOKING STATEMENTS
Forward-looking statements made in this news release are made pursuant
to the safe harbor provision of the Private Securities Litigation Reform
Act of 1995. These include statements that contain words such as "believe,"
"expect," "anticipate," "intend," "estimate," "should" and similar
expressions intended to connote future events and circumstances, and
include statements regarding future actual and adjusted earnings; future
improvements in margins, processing volumes and pricing; overall 2008
operating performance; anticipated effective tax rates; expected cost
savings; success in integrating Aleris's recent acquisitions, including the
acquisition of the downstream aluminum businesses of Corus Group plc; its
future growth; the anticipated economic environment in 2008; future
benefits from acquisitions and new products; expected benefits from changes
in the industry landscape; and anticipated synergies resulting from the
acquisition of the downstream aluminum businesses of Corus Group plc and
other acquisitions. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, and that actual results could
differ materially from those described in the forward-looking statements.
These risks and uncertainties would include, without limitation, Aleris's
levels of indebtedness and debt service obligations; its ability to
effectively integrate the business and operations of its acquisitions;
further slowdowns in automotive production in the U.S. and Europe; the
financial condition of Aleris's customers and future bankruptcies and
defaults by major customers; the availability at favorable cost of aluminum
scrap and other metal supplies that Aleris processes; the ability of Aleris
to enter into effective metals, natural gas and other commodity
derivatives; continued increases in natural gas and other fuel costs of
Aleris; a weakening in industrial demand resulting from a decline in U.S.
or world economic conditions, including any decline caused by terrorist
activities or other unanticipated events; future utilized capacity of
Aleris's various facilities; a continuation of building and construction
customers and distribution customers reducing their inventory levels and
reducing the volume of Aleris's shipments; restrictions on and future
levels and timing of capital expenditures; retention of Aleris's major
customers; the timing and amounts of collections; currency exchange
fluctuations; future write-downs or impairment charges which may be
required because of the occurrence of some of the uncertainties listed
above; and other risks listed in Aleris's filings with the Securities and
Exchange Commission (the "SEC"), including but not limited to Aleris's
annual report on Form 10-K for the fiscal year ended December 31, 2007 and
quarterly report on Form 10-Q for the quarter ended March 31, 2008,
particularly the sections entitled "Risk Factors" contained therein.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050504/CLW056LOGO )
SOURCE Aleris International, Inc.
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Related links:
http://www.aleris.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20050504/CLW056LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media, William Sedlacek, +1-216-910-3522, or
Investors, Sean M. Stack, +1-216-910-3504, both of Aleris
International, Inc.
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