Aleris selling U.S. Zinc to Votorantim for $295M

Nov 20, 2007 | 01:35 PM | Matthew Lerner

Aleris International Inc., Beachwood, Ohio, has entered into a definitive agreement to sell its U.S. Zinc subsidiary to affiliates of Votorantim Metais Ltda., the Sao Paulo-based metals unit of Brazil's Votorantim Group, for $295 million.

The sale of the unit was expected. Steven J. Demetriou, Aleris chairman and chief executive officer, said during a recent conference call that the company's core business was aluminum, and the zinc business could be divested (AMM, Nov. 9). "Potentially, somewhere down the line, it could be a divestiture if we see more value for it somewhere else," he said.....

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