Aleris

Sources Say Hindalco Offering US$2.5 Billion for Rolled Aluminium Firm Aleris

Sources Say Hindalco Offering US$2.5 Billion for Rolled Aluminium Firm Aleris

Hindalco Industries Ltd. has tendered an offer to buy Cleveland rolled aluminium firm Aleris International, Inc. for US$2.5 billion according to unnamed sources who spoke to Bloomberg earlier this week. According to the unnamed sources, the move is part of Kumar Mangalam Birla’s...

Events

Sources Say Expiration of Zhongwang Talks with Aleris Opens Door for Hindalco Bid

According to sources professing knowledge of the situation, last week’s expiration of acquisition talks between Aleris International, Inc. and China Zhongwang Holdings Limited has paved the way for the long-promised purchase pitch from Hindalco for the Cleveland aluminium extruder. Although talks between Aleris and Zhongwang lasted over a year and were extended several times, national-security […]

U.S. Lawmakers Urge Treasury Secretary to Reject Zhongwang’s Purchase of Aleris

Over two dozen United States legislators signed a letter calling upon U.S. Treasury Secretary Steven Mnuchin to disallow the sale of value-added aluminium firm Aleris to the People’s Republic of China’s controversial aluminium titan China Zhongwang Holdings. The letter, which was distributed to Reuters yesterday, cited national security concerns as their grounds for objecting to […]

Aleris Inks Deal with UAE Firm to Market Architectural Aluminium Alloy

Ohio’s Aleris International, Inc. announced a partnership earlier this week with Dubai’s MJ Building Materials TradingDMCC to promote its proprietary architectural aluminium alloy 55HX to construction firms in the region. Aleris’s 55HX alloy is designed to be used in a wide range of architectural applications, including indoor and outdoor spaces. Façades, wall cladding, ceilings, and […]

Investments, Start-Up Costs Led to Brutal Q1 for Aleris

Cleveland’s rolled aluminium firm Aleris Corporation released first-quarter numbers yesterday. Though most figures remained steady compared to last year’s first quarter, start-up costs and losses on investments took its toll on the firm’s net profits in the quarter. The firm shipped 199 thousand metric tons in the quarter, down slightly from last year’s first-quarter total […]

Aleris Shows Net Loss in 2016, but Plans on Better Bottom Line in 2017

Cleveland’s rolled aluminium firm Aleris released results for the fourth quarter and full year of 2016 on Friday. The firm turned in a net loss of US$35 million in the fourth quarter, a drop year-on-year from 2015’s fourth-quarter loss of US$13 million. Adjusted EBITDA for the quarter totaled US$43 million, an improvement year-on-year from 2015, […]