BEACHWOOD, Ohio, Aug. 8 /PRNewswire/ -- Aleris International, Inc.
today announces the appointment of Joseph M. Mallak, Senior Vice President,
Finance, Chief Accounting Officer and Controller.
Joseph M. Mallak has joined Aleris and has been elected Senior Vice
President, Finance, Chief Accounting Officer and Controller by the Board of
Directors. Bob Holian, who has been serving in this role and has also been
leading the implementation of the Swiss CE structure in Europe, will
continue to work full time on the completion of this major initiative for
the Company.
Mr. Mallak has over twenty years of finance and accounting experience
in private and public US and international manufacturing organizations. In
his most recent role, Mr. Mallak was a Managing Director for The Reserve
Group, a private equity firm based in Akron, Ohio, where he led the
strategic repositioning and restructuring of several portfolio companies.
Prior to joining The Reserve Group, Mr. Mallak served as Vice
President, Chief Financial Officer & Treasurer of Stoneridge Inc. (NYSE;
SRI), a publicly traded automotive engineered products company. Prior to
Stoneridge, Mr. Mallak served as Vice President and CFO for a global
Textron division. He began his career with the Ford Motor Company. "Joe's
demonstrated track record in a wide array of leadership roles in
accounting, finance, and mergers and acquisitions will be a great asset in
his new role with Aleris", said Mike Friday, Executive Vice President and
Chief Financial Officer.
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 has approximately 8,500 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 2007 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 2007; future benefits from acquisitions and new
products; expected benefits from changes in the industry landscape; 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 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, 2006 and
quarterly report on Form 10-Q for the quarter ended March 31, 2007,
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:
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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