BEACHWOOD, Ohio, Aug. 1 /PRNewswire-FirstCall/ -- Aleris International,
Inc. (NYSE: ARS) announced today that it has completed the purchase of the
downstream aluminum business of Corus Group plc. The acquisition includes
Corus's aluminum rolling and extrusion businesses but does not include
Corus's primary aluminum smelters.
Steve Demetriou, Chairman and CEO of Aleris International said, "We are
extremely pleased to have completed this acquisition which continues the
transformation of our company. We are delighted to welcome 4,600 new
employees to Aleris. The acquisition provides Aleris with a world-class
technology platform and a portfolio of high value-added products that
significantly diversifies our current offerings. Today, we are a global
company with significant assets in Europe and a foothold in the high-growth
China economy. We expect to continue Aleris's track record of growth and
profitability and are very excited about the future."
About Aleris
Aleris International, Inc. is a global leader in aluminum rolled
products and extrusions, aluminum recycling and specification alloy
production. The Company is also a recycler of zinc and a leading U.S.
manufacturer of zinc metal and value-added zinc products that include zinc
oxide and zinc dust. Headquartered in Beachwood, Ohio, a suburb of
Cleveland, the Company operates 50 production facilities in North America,
Europe, South America and Asia, and employs approximately 8,600 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 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, including the acquisition of the downstream aluminum
businesses of Corus Group plc; its future growth; an anticipated favorable
economic environment in 2006; future benefits from acquisitions and new
products; expected benefits from changes in the industry landscape and
post-hurricane reconstruction; and anticipated synergies resulting from the
merger with Commonwealth, 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 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, including
any decline 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
(the "SEC"), 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 and in the section
entitled "Risk Factors" contained in the Company's Current Report on Form
8-K filed with the SEC on June 30, 2006.
(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:
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
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