Aero glut, building sag drive Aleris losses

Nov 06, 2013 | 02:46 PM | Michael Cowden

Tags  Aleris International, Steven Demetriou, quarterly earnings, aerospace, inventory overhang, plate, construction, destocking auto body sheet

CHICAGO — Aleris International Inc.’s losses mounted in the third quarter as an expected rebound in North American building and construction demand failed to materialize while customer destocking and an aerospace plate inventory overhang dragged results down.

The Cleveland-based aluminum company posted a net loss of $7.3 million for the three months ended Sept. 30 in contrast to net income of $32.8 million a year earlier as revenue slipped 0.7 percent to $1.07 billion.....

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