Aleris International Inc. has announced that it has entered into a definitive
agreement to acquire Alumitech Inc., an aluminum recycling operation
headquartered in Cleveland, from Zemex Corp. Closing is expected
to occur prior to Dec. 31, 2005.
Steve Demetriou, chairman and CEO of Aleris International, says, "The acquisition of Alumitech is an excellent strategic fit with Aleris's existing recycling operations. The transaction provides outstanding opportunities to optimize processing capabilities between both organizations."
Aleris International is a major North American manufacturer of rolled aluminum products and is a leader in aluminum recycling and the production of specification alloys. The company also makes value-added zinc products that include zinc oxide, zinc dust and zinc metal. Headquartered in Beachwood, Ohio, the company operates 33 production facilities in the United States, Brazil, Germany, Mexico and Wales,and employs approximately 4,000 employees.
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