Metals and Mining
Company Overview of Aleris Corporation
Aleris Corporation manufactures and sells aluminum rolled and extruded products primarily in North America, Europe, and China. The company operates through Rolled Products North America, Rolled Products Europe, Rolled Products Asia Pacific, Extrusions, Recycling and Specification Alloys North America, and Recycling and Specification Alloys Europe. It offers rolled aluminum and coated products for the building and construction, distribution, transportation, and consumer durables sectors; and for aerospace plate and sheet, brazing sheet, automotive sheet, and heat treated plate for engineering uses, as well as for the packaging industries. The company also provides soft and hard alloy extruded...
25825 Science Park Drive
Cleveland, OH 44122
Founded in 1985
Key Executives for Aleris Corporation
Chief Financial Officer and Senior Vice President
Vice President of Operations
Executive Vice President and Chief Executive Officer of Rolled Products North
Executive Vice President and Chief Executive Officer of Europe & Asia Pacific
Compensation as of Fiscal Year 2014.
Aleris Corporation Key Developments
Aleris Zhenjiang Achieves Nadcap Accreditation for Aerospace Plate Production
Jun 23 14
Aleris announced that it has attained Nadcap accreditation for its new rolling mill in Zhenjiang, China, an industry standard for the production of aircraft aluminum plate and a prerequisite for inclusion on the Qualified Product List (QPL) for major aircraft manufacturers. The certification follows audits performed by the Performance Review Institute in May 2014, with respect to Nadcap requirements for heat treating and non-destructive testing. Once the qualification process is complete, Aleris Zhenjiang is expected to be one of the first facilities in Asia Pacific to produce aluminum plate for the major global aircraft manufacturers.
Aleris Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014 and Capital Spending Guidance for the Full Year of 2014
May 16 14
Aleris Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues were $1,054.2 million compared to $1,110.1 million for the same period a year ago. Operating income was $12.9 million compared to $36.7 million for the same period a year ago. Loss before income taxes was $13.0 million compared to income before income taxes of $17.6 million for the same period a year ago. Net loss attributable to the company was $17.6 million compared to net income attributable to the company of $10.9 million for the same period a year ago. Total adjusted EBITDA was $59.2 million compared to $64.5 million for the same period a year ago. EBITDA was $46.2 million compared to $65.4 million for the same period a year ago. Net cash provided by operating activities was $27.8 million compared to net cash used in operating activities of $55.6 million for the same period a year ago. Payments for property, plant and equipment was $47.5 million compared to $96.9 million for the same period a year ago.
For the second quarter of 2014, the company expected sequential performance improvement in line with prior year. Automotive light weighting impact on aluminum demand expected to significantly exceed prior year. Aerospace volumes continue to be impacted by customer destocking. Building and construction volumes expected to exceed prior year. Estimate second quarter 2014 segment income and adjusted EBITDA will be sequentially higher than the first quarter of 2014 and in line with the second quarter of 2013. Capital expenditures during the second quarter of 2014 are expected to be lower than the second quarter of 2013 and consistent with first quarter of 2014 as capital spending has returned to more normalized levels.
The company currently estimated capital spending of $165 million in 2014.
Aleris Corporation to Report Q1, 2014 Results on May 15, 2014
May 7 14
Aleris Corporation announced that they will report Q1, 2014 results at 5:00 PM, Eastern Standard Time on May 15, 2014
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