Major Aluminum Acquisition to Broaden Aero, Auto Products
An Atlanta-based provider of aluminum rolling and recycling recently announced the company has signed a definitive agreement to acquire Aleris Corp., Cleveland, a global supplier of rolled aluminum products supplier based in Cleveland, Ohio.
Novelis Inc. will acquire Aleris Corp’s 13 manufacturing facilities across North America, Asia, and Europe, including new automotive finishing lines in Lewisport, Kentucky, and significant auto capacity in Duffel, Belgium, providing a more diverse product portfolio, including aerospace, automotive, building and construction, commercial transportation and specialty products.
“Acquiring Aleris is the right opportunity at the right time as they are set for transformational growth,” said Steve Fisher, President and CEO, Novelis Inc. “The significant investments they’ve made in the high-demand, high-value aerospace and automotive segments have resulted in favorable long-term, global contracts. These investments, coupled with a diverse and talented workforce, will add tremendous value to our organization and allow us to deliver the highest quality innovative aluminum solutions to our customers.”
As part of the acquisition, Novelis will acquire Aleris’ 13 manufacturing facilities across North America, Asia and Europe. Aleris’ new automotive finishing lines in Lewisport, Kentucky, of which a significant amount of its capacity is already under contract, along with auto capacity in Duffel, Belgium, will allow Novelis to further diversify its global footprint and customer base.
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