Aleris Signs Joint Venture Agreement for Greenfield Rolling Mill in ChinaBy Aleris International Inc., PRNE
Tuesday, October 19, 2010
BEACHWOOD, Ohio, October 20, 2010 - 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
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Kristen Bihary, Aleris, +1-216-910-3664; or Ben Morgan or Bob Chen, APCO Worldwide, +86-21-5298-4668
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