Aleris sees strength in auto, aero, NA building sectors
May 09, 2013 | 03:50 PM
| Michael Cowden
CHICAGO Aleris International Inc. has high hopes for the rest of 2013 thanks to recent expansions, a strong outlook for the automotive and aerospace sectors, and a pick-up in North American building activity.
The aluminum company sold approximately 140 tonnes of plate from its new rolling mill in Zhenjiang, China, in the first quarter, generating approximately $1 million in revenue, executive vice president and chief financial officer Sean Stack said in a conference call May 9.
The facility, expected to have hot metal capacity of 250,000 tonnes per year, will be able to produce 35,000 tonnes of value-added commercial plate in its first phase, chairman and chief executive officer Steven J. Demetriou said. Initial production will be aimed at the engineering, transportation and shipbuilding sectors, he said. The mill will continue to ramp up production of commercial heat-treat and non-heat treat plate throughout 2013 to fulfill orders in Asia, Europe and North America, he said. ....
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