SAN ANTONIO Aleris International Inc. has completed its $110-million acquisition of Nichols Aluminum LLC.
The all-cash deal should allow the Cleveland-based aluminum company to expand its geographic footprint, boost its finishing capacity and provide more supply chain flexibility to its rolled products segment, Aleris chairman and chief executive officer Steven J. Demetriou said in a statement April 1.
"Aleris has a long history of growth and this investment is a compelling opportunity to extend our market presence in a way that complements our existing business," he said.
The acquisition of the aluminum sheet producer includes two production facilities in Davenport, Iowa, as well as operations in Decatur, Ala., and Lincolnshire, Ill., Aleris said.
The deal to acquire the subsidiary of Houston-based Quanex Building Products Corp. had been expected to close March 31 (amm.com, March 6).
Quanex now plans "on growing our position as a leading window and door component supplier, both domestically and internationally," Quanex chairman, president and chief executive officer William C. Griffiths said in a statement.