Metals and Mining
Company Overview of Aleris Corporation
Aleris Corporation manufactures and sells aluminum rolled products. The company operates through North America, Europe, and Asia Pacific segments. It offers rolled aluminum and coated products for use in the aerospace, automotive, transportation, building and construction, electrical, mechanical engineering, metal distribution, and packaging industries. The company offers its products to end-users and distributors through sales force, as well as sales offices and agents. Aleris Corporation was founded in 1985 and is headquartered in Cleveland, Ohio.
25825 Science Park Drive
Cleveland, OH 44122
Founded in 1985
Key Executives for Aleris Corporation
Chief Executive Officer, President and Director
Chief Financial Officer, Executive Vice President and Treasurer
Executive Vice President and Chief Executive Officer of Aleris Europe
Executive Vice President and Chief Executive Officer of Rolled Products Europe
Senior Vice President and President of Aleris Rolled & Extruded Products - Europe
Compensation as of Fiscal Year 2015.
Aleris Corporation Key Developments
Thomas W. Weidenkopf Resigns as Executive Vice President, Human Resources and Communications of Aleris Corporation
Sep 14 15
On September 8, 2015, Thomas W. Weidenkopf informed Aleris Corporation that he will resign from his position as Executive Vice President, Human Resources and Communications of the company effective on September 14, 2015.
Aleris Corp Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 4 15
Aleris Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $773.8 million against $749.4 million a year ago. Operating income was $8.3 million against $1.3 million a year ago. Loss from continuing operations before income taxes was $19.5 million against $25.1 million a year ago. Loss from continuing operations was $6.8 million against $25.4 million a year ago. Net loss attributable to the company was $18.6 million against $17.5 million a year ago. Net cash provided by operating activities was $46.7 million against net cash used by operating activities of $35.2 million a year ago. Payments for property, plant and equipment was $55.5 million against $30.8 million a year ago. Total adjusted EBITDA was $60.3 million against $39.5 million a year ago. EBITDA from continuing operations was $33.7 million against $30.6 million a year ago.
For the six months, the company reported revenues of $1,520.1 million against $1,340.3 million a year ago. Operating loss was $9.3 million against operating income of $6.1 million a year ago. Loss from continuing operations before income taxes was $47.4 million against $46.0 million a year ago. Loss from continuing operations was $32.5 million against $46.6 million a year ago. Net income attributable to the company was $86.8 million against net loss attributable to the company of $35.1 million a year ago. Net cash used by operating activities was $73.3 million against $7.3 million a year ago. Payments for property, plant and equipment was $120.7 million against $78.4 million a year ago. Total adjusted EBITDA was $115.3 million against $82.9 million a year ago, as a result of stronger margins, increased scrap spreads, the stronger U.S. dollar's impact on both margins for European sales denominated in U.S. dollars and the translation of U.S. dollar working capital from Europe segment. EBITDA from continuing operations was $68.8 million against $60.7 million a year ago. The increase of 13% was attributable to a stronger mix of higher value-added products sold, increased rolling margins, higher primary aluminum rices, revenue from the Nichols acquisition and Asia Pacific segment revenues. These increases were partly offset by a stronger U.S. dollar which reduced the translation of Euro revenue into U.S. dollars and a decrease in shipments of low value-added billets as more of Europe segment's casthouse production was used by rolling operations. The decrease in loss from continuing operations was driven by the factors that drove the increase in adjusted EBITDA of $32 million as well as benefits from the provision for income taxes, partially offset by an unfavorable variation in metal price lag, increased depreciation and higher restructuring charges.
Aleris Corporation to Report Q2, 2015 Results on Aug 04, 2015
Jul 24 15
Aleris Corporation announced that they will report Q2, 2015 results at 11:00 AM, GMT Standard Time on Aug 04, 2015
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