Metals and Mining
Company Overview of Aleris International, Inc.
Aleris International, Inc., together with its subsidiaries, manufactures and sells aluminum rolled products. The company operates through North America, Europe, and Asia Pacific segments. It produces rolled aluminum and coated products for various applications, including building and construction, distribution, transportation, automotive, and other uses in the consumer durables general industrial segments, as well as rolled products, such as aerospace plate and sheet, brazing sheet, automotive sheet, and heat treated plate for engineering uses and other uses in the transportation, construction, and packaging industries. The company offers its products to end-users and distributors through sa...
25825 Science Park Drive
Cleveland, OH 44122
Key Executives for Aleris International, Inc.
Chief Executive Officer and President
Chief Financial Officer, Executive Vice President and Treasurer
Executive Vice President and Chief Executive Officer of Aleris Asia
Executive Vice President and Chief Executive Officer of Global Recycling
Chief Technology Officer and Vice President
Compensation as of Fiscal Year 2015.
Aleris International, Inc. Key Developments
Aleris International, Inc. and its Subsidiaries Enter into Credit Agreement Providing for $600.0 Million Revolving Credit Facility
Jun 19 15
On June 15, 2015, Aleris International, Inc. entered into a credit agreement providing for a $600.0 million revolving credit facility which permits multi-currency borrowings up to $600.0 million by Aleris International and its U.S. subsidiaries and up to a combined $300.0 million by Aleris Switzerland GmbH, a wholly owned Swiss subsidiary, Aleris Aluminum Duffel BVBA, a wholly owned Belgian subsidiary, Aleris Rolled Products Germany GmbH, a wholly owned German subsidiary and, upon its accession to the credit agreement, Aleris Casthouse Germany GmbH, a wholly owned German subsidiary. The New ABL Facility contains, in the aggregate, a $45.0 million sublimit for swingline loans and also provides for the issuance of up to $125.0 million of letters of credit. The credit agreement provides that commitments under the New ABL Facility may be increased at any time by up to an additional $300.0 million, subject to certain conditions. The availability of funds to the U.S. borrowers as a group, the Swiss borrower, the Belgian borrower and each German borrower is subject to a separate borrowing base calculated on the basis of a predetermined percentage of the value of their respective eligible accounts receivable, eligible cash and eligible inventory (subject to certain exclusions for ineligible assets). In the case of borrowings in U.S. dollars, (a)a LIBO rate determined by reference to the offered rate for deposits in dollars for the interest period relevant to such borrowing, plus an applicable margin ranging from 1.50% to 2.00% based on availability under the New ABL Facility or (b)a base rate determined by reference to the higher of (1) JPMorgan Chase Bank, N.A.’s prime lending rate and (2) the one month Eurodollar Rate, plus an applicable margin ranging from 0.50% to 1.00% based on excess availability under the New ABL Facility; in the case of borrowings in euros, a EURIBO rate determined by the administrative agent plus an applicable margin ranging from 1.50% to 2.00% based on excess availability under the New ABL Facility; and in the case of borrowings in Sterling, a LIBO rate determined by reference to the offered rate for deposits in Sterling for the interest period relevant to such borrowing, plus an applicable margin ranging from 1.50% to 2.00% based on excess availability under the New ABL Facility.
Aleris International, Inc. Presents at JPMorgan Global High Yield & Leveraged Finance Conference, Feb-23-2015 09:40 AM
Feb 16 15
Aleris International, Inc. Presents at JPMorgan Global High Yield & Leveraged Finance Conference, Feb-23-2015 09:40 AM. Venue: Loews Hotel, Miami Beach, Florida, United States.
Aleris International Cuts 95 Jobs as it Closes Nichols Aluminum
Oct 17 14
Aleris International announced that it will close its aluminum finishing plant in Decatur just a few months after acquiring the business in a $110 million cash deal. Nichols Aluminum, which began as Decatur Aluminum Corp. in the late 1950s and now has 95 employees, will shut down during the next few months. An effects bargaining process with the union representing plant workers will determine the terms of separation for employees of the Decatur facility. The Nichols Aluminum shutdown is one of several plant closures in north Alabama during the last year and a half.
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