Novelis Inc. completed its acquisition of Aleris Corporation, a global supplier of rolled aluminum products, for $2.8 billion. The purchase includes 13 plants across North America, Europe, and Asia — expanding Novelis’ flat rolled aluminum capabilities and enabling it to meet increasing customer demand for aluminum. “The Aleris deal marks a major milestone for Novelis, […]
Airbus is expanding its industrial footprint in the U.S. by increasing the production rate of A320 family aircraft. The company will invest $40 million in construction of an additional support hangar on the site, enabling it to produce sixty-three A320 family aircraft per month at its manufacturing facility in Mobile, Alabama, in 2021. “Airbus has been manufacturing […]
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Novelis Inc., the world leader in aluminum rolling and recycling, today announced it signed a definitive agreement to acquire Aleris Corporation, a global supplier of rolled aluminum products, for approximately $2.6 billion including the assumption of debt. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in 9-15 […]
Aleris officially opened its aluminum automotive body sheet production facility in Lewisport, Kentucky. The $400 million project positions the company to meet significant growth in North American automotive demand as the industry pursues broader aluminum use for the production of lighter, more fuel-efficient vehicles. The facility has the capacity to produce 480 million lbs of aluminum auto body sheet […]
Aleris Corporation entered into a definitive agreement to be acquired by Zhongwang USA LLC, an investment company owned by Zhongwang International Group Ltd., parent company of China Zhongwang. Under the agreement, Zhongwang USA will acquire Aleris for $1.11 billion in cash for the equity, plus $1.22 billion in net debt. “We are excited about this transition to strategic […]
Aleris Corporation reported fourth quarter and full year results ending on December 31, 2015, which reflect the divested recycling and extrusions businesses as discontinued operations. “A better than projected fourth quarter caps off a strong 2015, during which we completed the transformation of Aleris into a global rolled products company,”said Sean Stack, Aleris president and CEO, “a strategy […]
