Aleris Signs Multi-Year Contract With Daimler
CLEVELAND, May 29, 2012 /PRNewswire/ -- Aleris today announced that it has signed a four-year contract to provide molten aluminum to Daimler AG for the production of cylinder heads for all Daimler automobile models. Aleris is the leading merchant aluminum recycler and supplier of specification alloys in the United States and Europe.
Aleris recently installed a fifth furnace at its Deizisau, Germany facility to increase capacity by 20 percent in order to support increased demand from Daimler.
"We have a longstanding relationship with Daimler and our partnership continues to be mutually beneficial," said Steven J. Demetriou, Aleris chairman and chief executive officer. "We are proud to provide a high-quality upstream product for Daimler's premium automobile brands."
Aleris constructed its Deizisau facility in 2006 in response to Daimler's need for specific aluminum alloys. Deizisau's location just 15 kilometers from Daimler's production facility in Mettingen, Germany enables efficient transport of the molten metal for just-in-time delivery.
In addition to the benefits associated with a dedicated facility, Aleris Recycling sources scrap aluminum to meet customer specifications, offering customers maximum flexibility in manufacturing.
Aleris is focused on realizing the significant potential of aluminum for our customers and our world. A global leader in aluminum rolled and extruded products, aluminum recycling and specification alloy manufacturing, Aleris products are used by manufacturers in almost every industry. Headquartered in Cleveland, Ohio, the company has approximately 6,900 employees and currently operates 41 production facilities in North America, Europe and Asia. For more information, visit www.aleris.com.
Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing the words "may," "could," "would," "should," "will," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "look forward to," "intend" and similar expressions intended to connote future events and circumstances constitute forward-looking statements. Forward-looking statements include statements about future costs and prices of commodities, production volumes, industry trends, demand for our products and services, anticipated cost savings, anticipated benefits from new products or facilities, and projected results of operations. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in or implied by any forward-looking statement. Important factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: (1) our ability to successfully implement our business strategy; (2) the cyclical nature of the aluminum industry, our end-use segments and our customers' industries; (3) our ability to fulfill substantial capital investment requirements; (4) variability in general economic conditions on a global or regional basis; (5) our ability to enter into effective aluminum, natural gas and other commodity derivatives or arrangements with customers to effectively manage our exposure to commodity price fluctuations and changes in the pricing of metals; (6) increases in the cost of raw materials and energy; (7) the loss of order volumes from or the retention of our major customers; (8) our ability to generate sufficient cash flows to fund capital expenditure requirements and debt service obligations; (9) competitor pricing activity, competition of aluminum with alternative materials and the general impact of competition in our industry segments; (10) risks of investing in and conducting operations on a global basis, including political, social, economic, currency and regulatory factors; (11) liabilities under and costs of compliance with environmental, labor, health and safety laws; and (12) other factors discussed in our filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" contained therein. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether in response to new information, futures events or otherwise, except as otherwise required by law.
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