Aleris announced today that it has completed the sale of its aluminum extrusions business to Japanese building products and extrusions manufacturer Sankyo Tateyama, Inc. The sale, which was announced in December, includes four production facilities inEurope and one in China. Sankyo Tateyama paid a purchase price ofEUR35.5 million for the business (lessEUR6.4 million in net debt) and assumed approximately EUR60.9 million of pension liabilities.
"With the sale of our extrusions business now complete, we can completely shift our focus to growing our aluminum rolled products business where we continue to invest in our capabilities to best serve industries including automotive, aerospace, and building and construction,"Steve Demetriou, Aleris Chairman and CEO said. "We wish our former extrusions employees and the Sankyo Tateyama team great success in the future."
On February 27 the company announced it completed the sale of its Recycling and Specification Alloys businesses inNorth America and Europe. With both transactions now complete, the new Aleris footprint includes 14 aluminum rolled products facilities inNorth America, Europe and Asia Pacific in addition to five global innovation centers that are focused on research and development.
