Aleris Unveils New Automotive Aluminum Production Facility
Company Expands Capability to Meet Growing Demand For Wide Automotive Body Sheet
DUFFEL, Belgium, March 14, 2013 /PRNewswire/ -- Aleris today announced the opening of a new cold rolling mill at its Duffel, Belgium, facility to meet increasing demand for wide automotive body sheet. The completion of the mill, when combined with the facility's continuous annealing line, creates a dedicated automotive center that further equips the company to produce the widest aluminum sheet currently available in the industry.
Aleris announced the $70 million expansion in 2011. The company is the second-largest supplier of heat-treated auto body sheet in Europe.
"Our investment in new capacity and an innovation center in Duffel further solidifies our full commitment to the automotive industry and the development of solutions to help support our customers' future growth," Chairman and Chief Executive Officer Steve Demetriou said. "As more of our automotive customers turn to aluminum as a solution to meet new fuel-efficiency standards, we believe our new cold mill will help us meet increased demand worldwide."
The new automotive facility produces wide auto body sheet, reducing design limitations and improving productivity for automotive customers. The Duffel facility's continuous annealing line is the widest available, which provides customers with wide auto body sheet that has high formability at enhanced levels of consistency and quality.
Backed by a world-class research and development capability, the new facility enables the company to better partner with customers to deliver lightweight solutions that can provide a more sustainable approach to the design and manufacture of vehicles.
Aleris is a privately held, global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Cleveland, Ohio, Aleris operates more than 40 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, among other things, 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 our substantial capital investment requirements; (4) variability in general economic conditions on a global or regional basis; (5) our ability to retain the services of certain members of our management; (6) our ability to enter into effective metal, natural gas and other commodity derivatives or arrangements with customers to manage effectively our exposure to commodity price fluctuations and changes in the pricing of metals; (7) our internal controls over financial reporting and our disclosure controls and procedures may not prevent all possible errors that could occur; (8) increases in the cost of raw materials and energy; (9) the loss of order volumes from any of our largest customers; (10) our ability to retain customers, a substantial number of whom do not have long-term contractual arrangements with us; (11) our ability to generate sufficient cash flows to fund our capital expenditure requirements and to meet our debt service obligations; (12) competitor pricing activity, competition of aluminum with alternative materials and the general impact of competition in the industry segments we serve; (13) risks of investing in and conducting operations on a global basis, including political, social, economic, currency and regulatory factors; (14) current environmental liabilities and the cost of compliance with and liabilities under health and safety laws; (15) labor relations (i.e., disruptions, strikes or work stoppages) and labor costs; (16) our levels of indebtedness and debt service obligations; (17) the possibility that we may incur additional indebtedness in the future; (18) limitations on operating our business as a result of covenant restrictions under our indebtedness; and (19) 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.
More by this Source
Aleris Signs Multi-Year Agreement to Supply Boeing
Feb 20, 2014, 08:30 ET
Aleris Announces Agreement To Acquire Nichols Aluminum
Feb 10, 2014, 09:00 ET
Aleris to Announce Fourth-Quarter and Full-Year 2013 Financial Results on March 10, 2014
Mar 03, 2014, 09:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.