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Aleris to acquire Nichols Aluminum

February 11, 2014 - 01:51 GMT Location: New York

KEYWORDS: Aleris , Nichols Aluminum

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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