Aluminum price strength carries Aleris to $18.9M profit in 2d qtr.
Aug 10, 2005 | 01:52 PM
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Domestic production of aluminum sheet and "strong" pricing provided most of the sparkle as Aleris International Inc. posted net income of $18.9 million on $603.6 million in sales in the second quarter.
The company's U.S. rolling mills provided 53 percent of revenue and 70 percent of segment-by-segment earnings in the second quarter.
Aleris, created in January by the merger of Commonwealth Industries Inc. and Imco Recycling Inc., is based in Beachwood, Ohio. Current management's productivity improvements and synergies added more than $6 million to net income in the recent quarter, up from $2.5 million in the first three months of this year, according to Steven Demetriou, chairman and chief executive officer.....
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