BEACHWOOD, Ohio, July 3 /PRNewswire-FirstCall/ -- Aleris International,
Inc. (NYSE: ARS) announced today several organizational changes related to
its planned acquisition of the downstream aluminum businesses of Corus
Group plc.
Sean M. Stack, currently Senior Vice President, Treasurer and Corporate
Development of Aleris, will become Executive Vice President of Aleris and
President-Europe upon completion of the pending Corus Aluminum acquisition.
He will have regional leadership responsibility for all of the European
aluminum rolled products and extrusion businesses to be acquired from Corus
as well as responsibility for all of Aleris's existing European-based
aluminum recycling and specification alloy businesses. Corus Aluminum's
Canadian operations will report to John Wasz, Executive Vice President,
Aleris and President, Aleris Rolled Products, North America. Mr. Stack
joined Aleris in 2004. Previously, Mr. Stack served as Vice President and
Treasurer of Commonwealth Aluminum, and was Vice President and Treasurer of
Noveon, Inc. prior to that.
Alfred Haszler, currently Managing Director of Corus Aluminum Rolled
Products, will become, upon the closing of the pending Corus Aluminum
acquisition, Senior Vice President of Aleris and President, Aleris Rolled
and Extruded Products-Europe. He will have responsibility for the European
rolled products business, as well as the aluminum extrusions business.
Werner Graf will continue to lead the extrusion business as Managing
Director, reporting to Mr. Haszler. In his new position, Mr. Haszler will
report jointly to Steve Demetriou, Chairman and CEO of Aleris and Sean
Stack. Mr. Haszler has served in his current position since 2004, and has
worked in various management positions with Corus and the Koblenz plant
operations in Germany since 1970.
Gerhard Buddenbaum, Executive Director, Corus Aluminum Division and a
member of the Corus Group plc. Executive Committee previously announced his
retirement from Corus, effective June 30. He will be retained by Aleris
following the acquisition as a senior consulting advisor.
Commenting on the leadership announcements, Mr. Demetriou said, "Alfred
Haszler and Sean Stack will bring aggressive and top quality leadership to
our expanding European business. Alfred Haszler is well known in the rolled
products industry and will lead one of the most capable and technically
proficient businesses in our industry. Sean Stack brings financial acumen
and strategic vision to our European businesses. Under their leadership, I
am confident we will have one of the strongest leadership teams in our
industry."
He went on to say, "We look forward to having Gerhard Buddenbaum on our
team. He has been a dynamic executive in the aluminum industry throughout
his long and distinguished career.
The organizational changes are expected to take effect upon the closing
of the pending Corus transaction. The closing of the acquisition is
envisaged in the third quarter of 2006.
Aleris International, Inc. is a major North American manufacturer of
rolled aluminum products and is a global leader in aluminum recycling and
the production of specification alloy. We are also a leading manufacturer
of value-added zinc products that include zinc oxide, zinc dust and zinc
metal. Headquartered in Beachwood, Ohio, a suburb of Cleveland, the Company
operates 41 production facilities in the U.S., Brazil, Germany, Mexico and
Wales, and employs approximately 4000 employees. For more information about
the Company, 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 and
earnings per share; future improvements in margins, processing volumes and
pricing; overall 2006 operating performance; anticipated higher adjusted
effective tax rates; expected cost savings; success in integrating Aleris's
recent acquisitions; its future growth; an anticipated favorable economic
environment in 2006; future benefits from acquisitions and new products;
expected benefits from industry consolidation and post-hurricane
reconstruction; and anticipated synergies resulting from the merger with
Commonwealth 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
acquisition; 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 the Company processes;
the ability of the Company to enter into effective metals, natural gas and
other commodity derivatives; continued increases in natural gas and other
fuel costs of the Company; a weakening in industrial demand resulting from
a decline in U.S. or world economic conditions caused by terrorist
activities or other unanticipated events; future utilized capacity of the
Company's various facilities; a continuation of building and construction
customers and distribution customers reducing their inventory levels and
reducing the volume of the Company's shipments; restrictions on and future
levels and timing of capital expenditures; retention of the Company'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 the Company's filings with the Securities
and Exchange Commission, including but not limited to the Company's annual
report on Form 10-K for the fiscal year ended December 31, 2005, and
quarterly report on Form 10-Q for the quarter ended March 31, 2006,
particularly the sections entitled "Risk Factors" contained therein.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050504/CLW056LOGO)
SOURCE Aleris International, Inc.
 back to top
Related links:
http://www.aleris.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20050504/CLW056LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Michael D. Friday of Aleris International,
Inc., +1-216-910-3503
|
