CLEVELAND, Oct. 26, 2011 /PRNewswire/ -- Aleris has signed a Letter of Intent with the Zhenjiang Municipal People's Government in Zhenjiang City, Jiangsu Province, China, regarding a potential new investment of approximately $200 million by 2014 for the production of aluminum coil and sheet for automotive applications. If approved, construction of new production capacity would be expected to begin by the end of 2012.
"Aleris is committed to supporting its global automotive customers and their supply objectives," said Steven J. Demetriou, Aleris chairman and chief executive officer. "China plays an important role in our global automotive growth strategy.
"In line with that strategy, we are also on-track to complete the construction of a new cold rolling mill in our facility in Duffel, Belgium, by the end of 2012 that will significantly increase our capacity to produce wide automotive-body sheet," said Demetriou.
Earlier this year, Aleris began construction of a $300 million greenfield rolling mill in Zhenjiang City, with completion expected in the fourth quarter of 2012. A joint venture of Aleris and Zhenjiang Dingsheng Aluminum Industries Joint-Stock Co., Ltd., named Aleris Dingsheng Aluminum (Zhenjiang) Co., Ltd., the facility initially will produce aluminum plate for the aerospace, general engineering, tooling and molding, petrochemical and transportation industries.
Aleris is a privately-held, global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Cleveland, Ohio, the company operates more than 40 production facilities in North America, Europe and Asia. For more information, visit www.aleris.com.
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