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Aleris to acquire Nichols Aluminum
February 11, 2014 - 01:51 GMT
Aleris International has signed a definitive agreement to acquire Nichols Aluminum, a wholly-owned subsidiary of Quanex Building Products Corp, for $110 million in an all-cash transaction, Aleris said on Monday February 10.
The acquisition will provide added supply chain flexibility
by "combining complementary production capabilities", a
spokesman for Cleveland-based Aleris – a major
producer of common alloy, high-recycled-content aluminium sheet
– told Metal Bulletin sister title AMM. "Nichols has a
long history of producing flat-rolled aluminium sheet products
for customers in a number of key industries across North
America and we look forward to continuing that long-standing
tradition," Steven J Demetriou, Aleris chairman and ceo, said
in statement, noting that "this acquisition is consistent with
our strategy to expand our footprint and enhance our
capabilities to ensure we are well-positioned to...
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