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Novelis to Buy Rival Aluminum Supplier Aleris
Atlanta-based Novelis Inc. has agreed to purchase rival aluminum supplier Aleris Corp. for $2.6 billion, including debt assumption.
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Atlanta-based Novelis Inc. has agreed to purchase rival aluminum supplier Aleris Corp. for $2.6 billion, including debt assumption.
The acquisition, which is expected to be finalized next year, will expand Novelis’ revenues to about $15 billion. The combined operations will include 37 facilities in 11 countries with some 16,500 employees.
Novelis, which claims to be the leading producer of flat-rolled aluminum products and the world’s largest aluminum recycler of aluminum, notes that the deal will give it a more diverse customer and product base.
Cleveland-based Aleris supplies rolled aluminum products to the automotive and aerospace industries. The company has 13 manufacturing facilities across Asia, Europe and North America. The plants include a huge complex in Lewisport, Ky., that recently received a $400 million upgrade to extend its heat treatment and finishing capabilities.
Aleris says the Lewisport facility can produce the widest aluminum sheet in the industry. The wider material enables greater efficiency and flexibility for carmakers as they expand aluminum applications to include hoods, roofs, door panels, side panels and trunks, according to the supplier.
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