Aleris, a Cleveland-based company that specializes in aluminum rolled products, has completed the sale of its aluminum extrusions business to Sankyo Tateyama Inc., a Japanese building products and extrusions manufacturer.
The sale, which was first announced in December 2014, includes four production facilities in Europe and one in China.
Sankyo Tateyama paid 35.5 million euro (US$39.7 million) for the business and assumed about 60.9 million euro (US$68.1 million) of pension liabilities.
"With the sale of our extrusions business now complete, we can completely shift our focus to growing our aluminum rolled products business where we continue to invest in our capabilities to best serve industries, including automotive, aerospace and building and construction," says Steve Demetriou, Aleris chairman and CEO. "We wish our former extrusions employees and the Sankyo Tateyama team great success in the future."
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