BEACHWOOD, Ohio, Oct. 20 /PRNewswire/ -- Aleris International, Inc. has signed a joint venture agreement with Zhenjiang Dingsheng Aluminum Industries Joint-Stock Co., Ltd. for the construction of a state-of-the-art aluminum rolling mill in Zhenjiang City, Jiangsu Province in China that will produce semi-finished rolled aluminum products. Aleris will be the majority owner in the venture.
"This agreement demonstrates our commitment to China," said Steven J. Demetriou, Aleris chairman and chief executive officer. "The investment in this facility is a key component of our growth strategy, which includes a significant focus on serving customers in China.
"With this venture, Aleris and Dingsheng will build and operate one of the most technologically advanced rolling mills in the world. Dingsheng is a distinguished company with recognized manufacturing expertise and strong leadership, and we are pleased to be working with them. We also appreciate and value the support of the Jiangsu Province and the City of Zhenjiang."
Construction of the plant will begin upon receipt of the customary government approvals and is expected to be completed within two years.
Aleris International, Inc. is a privately-held, global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Beachwood, Ohio, the company operates more than 40 production facilities in the Americas, Europe and Asia. For more information, visit www.aleris.com.
Aleris has no obligation under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, or other laws to publicly disclose financial or other information regarding its business. Aleris may publicly disclose certain information from time to time, in its sole discretion. Aleris may also determine not to publicly disclose any information, in its sole discretion, notwithstanding prior disclosures or any pattern of prior disclosures.
The information disclosed in this press release is believed by Aleris to be accurate as of the date hereof. Aleris expressly disclaims any duty to update the information contained in this press release. Persons engaging in any transactions with Aleris or in Aleris's securities are cautioned that there may exist other material information regarding Aleris that is not publicly available.
SOURCE Aleris International, Inc.