Quanex ponders Nichols sale amid low prices
Dec 18, 2013 | 03:11 PM
| Michael Cowden
CHICAGO Quanex Building Products Corp. would consider selling its Nichols Aluminum LLC subsidiary for the right price, given low aluminum prices and after a November fire at its Decatur, Ala., plant proved more serious than initially disclosed.
Houston-based Quanex considers itself primarily a supplier of window components and would consider investing the proceeds of any sale of aluminum sheet maker Nichols into its other businesses, Quanex chief executive officer William C. Griffiths said Dec. 17 in an earnings conference call with analysts.
"Look, we have Nichols at the point now where it is operating as well as it has in recent history and were clearly still struggling with an aluminum market that is severely depressing any efforts we make there in terms of productivity," Griffiths said after a long pause following a question about how Davenport, Iowa-based Nichols fits strategically into Quanex.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.