omniture

Aleris Announces Leadership Changes

2014-10-29 15:00 1766

CLEVELAND, Oct. 29, 2014 /PRNewswire/ -- Aleris announced today that Roeland Baan, who currently leads the company's businesses in Europe and Asia Pacific, will become executive vice president, CEO of Asia Pacific to help accelerate the ramp-up of the company's aluminum plate mill in Zhenjiang, China and determine the next phase of investment for that business. Ingrid Jorg, senior vice president and general manager of Rolled Products Europe, has been promoted to executive vice president and CEO of Rolled Products Europe. Both will report directly to Chairman and CEO Steve Demetriou.

"As we transition Aleris to become a pure aluminum rolled products company, we are implementing leadership changes that will enhance our ability to drive growth across all of our business units," Steve Demetriou, Aleris chairman and CEO said. "Roeland and Ingrid are talented executives who have been critical to our success in both China and Europe and I am confident that under their leadership, we can accelerate our growth in these important regions."

Earlier this month Aleris announced the planned divestiture of the Recycling and Specification Alloys businesses. The divestiture will allow the company to strengthen its focus on its global rolled products business, and position it to further capitalize on the projected growth within the key industries it serves.

The Aleris global technology and aerospace organizations along with the Extrusions business will also report directly to Baan. Jorg will continue to oversee the global automotive segment for the company.

The new roles will take effect November 1.

About Aleris
Aleris is a privately held, global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Cleveland, Ohio, Aleris operates approximately 40 production facilities in North America, Europe and Asia. For more information, visit www.aleris.com.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws. Statements under headings with "Outlook" in the title and statements about our beliefs and expectations and statements containing the words "may," "could," "would," "should," "will," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "look forward to," "intend" and similar expressions intended to connote future events and circumstances constitute forward-looking statements. Forward-looking statements include statements about, among other things, future costs and prices of commodities, production volume, industry trends, demand for our products and services, anticipated cost savings, anticipated benefits from new products or facilities, and projected results of operations. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in or implied by any forward-looking statement. Some of the important factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: (1) our ability to successfully implement our business strategy; (2) the cyclical nature of the aluminum industry, material adverse changes in the aluminum industry or our end-use segments, such as global and regional supply and demand conditions for aluminum and aluminum products, and changes in our customers' industries; (3) our ability to fulfill our substantial capital investment requirements; (4) variability in general economic conditions on a global or regional basis; (5) our ability to retain the services of certain members of our management; (6) our ability to enter into effective metal, natural gas and other commodity derivatives or arrangements with customers to manage effectively our exposure to commodity price fluctuations and changes in the pricing of metals, especially London Metal Exchange-based aluminum prices; (7) our internal controls over financial reporting and our disclosure controls and procedures may not prevent all possible errors that could occur; (8) increases in the cost of raw materials and energy; (9) the loss of order volume from any of our largest customers; (10) our ability to retain customers, a substantial number of whom do not have long-term contractual arrangements with us; (11) our ability to generate sufficient cash flows to fund our capital expenditure requirements and to meet our debt service obligations; (12) competitor pricing activity, competition of aluminum with alternative materials and the general impact of competition in the industry segments we serve; (13) risks of investing in and conducting operations on a global basis, including political, social, economic, currency and regulatory factors; (14) current environmental liabilities and the cost of compliance with and liabilities under health and safety laws; (15) labor relations (i.e., disruptions, strikes or work stoppages) and labor costs; (16) our levels of indebtedness and debt service obligations, including changes in our credit ratings, material increases in our cost of borrowing or the failure of financial institutions to fulfill their commitments to us under committed credit facilities; (17) our ability to access the credit and capital markets; (18) the possibility that we may incur additional indebtedness in the future; (19) limitations on operating our business as a result of covenant restrictions under our indebtedness and our ability to pay amounts due under the Senior Notes; and (20) the previously announced proposed sale transaction (including the possibility that the transaction may not close or that, if a transaction does close, Aleris may not realize the anticipated benefits from such transaction); and (21) other factors discussed in our filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" contained therein. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether in response to new information, future events or otherwise, except as otherwise required by law.


Source: Aleris
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Keywords: Mining Mining/Metals
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