Cleveland, Ohio – Aleris International has completed its acquisition of Nichols Aluminum LLC, a leading producer of aluminum sheet for the transportation, building and construction, machinery and equipment, consumer durables, and electrical industries in North America. The acquisition provides Aleris with greater efficiency and flexibility to serve customers.
“Adding the Nichols’ sites to our portfolio is consistent with our strategy to grow our geographic footprint, expand our finishing capacity and add supply chain flexibility in our rolled products segment in North America – all of which will enhance our level of service to our customers,” Steve Demetriou, Aleris chairman and CEO says. “Aleris has a long history of growth and this investment is a compelling opportunity to extend our market presence in a way that complements our existing business.”
The acquisition includes two production facilities in Davenport, Iowa, a facility in Decatur, Ala., and a facility in Lincolnshire, Ill. The company has agreed to pay $110 million in an all-cash transaction.
Aleris will add more than 500 Nichols’ employees, thanks to the transaction.
Source: Aleris