Posted March 17, 200619 yr Interesting article. Aleris is a company that was born out of a merger a year or two ago. Upon merger, MOVED their HQ to the Cleveland area (Beachwood). I think I heard that this was a big win for Team NEO, the nonprofit that tries to place companies in Cleveland. This deal would double their size and make them a fairly significant player in the industry and definitely Cleveland. It's good to see a Cleveland company as the buyer, as opposed to being bought out. Deal would lift Aleris in aerospace Friday, March 17, 2006 Peter Krouse Plain Dealer Reporter Aleris International Inc. said Thursday that it plans to buy aluminum operations from London-based Corus Group PLC that would increase the Beachwood company's annual sales to about $5 billion and make it one of top three aluminum suppliers to the aerospace industry. More at: http://www.cleveland.com/business/plaindealer/index.ssf?/base/business/1142589247170140.xml&coll=2
March 17, 200619 yr Crain's take-- Aleris acquires aluminum biz By MAYA R. PAYNE 9:24 am, March 16, 2006 Aleris International Inc. (NYSE:ARS) of Beachwood plans to acquire the aluminum rolling and extrusion businesses of Corus Group plc, a London-based steelmaker, for about 700 million euro, or $848 million. More at: http://www.crainscleveland.com/article/20060316/FREE/60316004
March 17, 200619 yr Good news! Two thoughts: When are they going to relocate downtown? :-D And, this provides yet another reason for more nonstop transoceanic flights to/from Cleveland. See discussion at: http://www.urbanohio.com/forum2/index.php?topic=7930.0 "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
March 17, 200619 yr Good news! Two thoughts: When are they going to relocate downtown? :-D And, this provides yet another reason for more nonstop transoceanic flights to/from Cleveland. See discussion at: http://www.urbanohio.com/forum2/index.php?topic=7930.0 Do say that, you'll get a reason why it not possible for Cleveland to have better flight options! :speech:
March 18, 200619 yr Good news! Two thoughts: When are they going to relocate downtown? :-D Their offices are actually quite swanky over in Beachwood--they're in the same building as Christian Timbers, the executive recruiters. Do you know how prices compare between some of the high-end (I'm assuming Class A) commercial buildings in Beachwood vs. Cleveland? Are these suburban office buildings significantly cheaper or is the draw just that the business can locate closer to where their employees live by being out in the 'burbs?
May 24, 200619 yr Further movement on this fairly large acquisition that puts a metro Cleveland company on the good side of the M&A equation. Hopefully, this leads to some job consolidation & growth into their offices here. Aleris deal with Corus moves ahead By LESLIE STROOPE 9:46 am, May 24, 2006 Aleris International Inc. in Beachwood has reached a definitive agreement to acquire for nearly $900 million segments of Corus Group plc with estimated downstream revenue of $1.8 billion. The agreement will allow Aleris, an aluminum recycler and maker of aluminum products, to acquire the aluminum rolling and extrusion segments of Corus Group, a London-based aluminum manufacturer. The acquisition will not include Corus Group’s primary aluminum smelters, according to an Aleris statement. More at: http://www.crainscleveland.com/article/20060524/FREE/60524002
Create an account or sign in to comment