BEACHWOOD, Ohio, Dec. 6 /PRNewswire-FirstCall/ -- Aleris International,
Inc. (NYSE: ARS) announced today that it has entered into a definitive
agreement to acquire Alumitech, Inc., an aluminum recycling operation,
headquartered in Cleveland, OH, from Zemex Corporation. Closing is expected
to occur prior to December 31, 2005.
Steve Demetriou, Chairman and Chief Executive Officer of Aleris
International, Inc., stated, "The acquisition of Alumitech is an excellent
strategic fit with Aleris's existing recycling operations. The transaction
provides outstanding opportunities to optimize processing capabilities between
both organizations."
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 alloys. 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
33 production facilities in the United States, Brazil, Germany, Mexico and
Wales, and employs approximately 4,000 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 2005
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' 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 quarterly reports on Form 10-Q for the periods ended March
31, 2005, June 30, 2005 and September 30, 2005 and its annual report on Form
10-K for the fiscal year ended December 31, 2004, 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://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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