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Continued volume increases in our global aerospace and automotive market segments and increased demand from customers in the North American building and construction industry were offset by lower regional European demand resulting in a 4 percent decline in volumes in the second quarter of 2012 versus second quarter 2011.
Net income attributable to Aleris International, Inc. for the second quarter of 2012 was $34 million compared to $56 million for the second quarter of 2011. Net income was negatively impacted by increased start-up expenses associated with our aerospace rolling mill in Zhenjiang, China, higher income tax provisions and higher unrealized hedge losses.
Second quarter adjusted EBITDA was $90 million compared to $95 million for 2011 as increased demand from our global market segments, including our global aerospace and automotive market segments, and the North American building and construction industry was more than offset by tighter scrap and metal spreads which reduced adjusted EBITDA by $15 million.
Cash provided by operating activities totaled $62 million in the second quarter of 2012 compared to $81 million for the second quarter of 2011.
Capital expenditures increased in the second quarter to $96 million as progress continued on our strategic initiatives, including our rolling mill in Zhenjiang, China, and the wide auto body sheet expansion project in Duffel, Belgium. Construction for both projects is expected to be complete by year end with production at our Zhenjiang rolling mill beginning in first quarter 2013.
Liquidity at June 30, 2012 was $589 million consisting of $459 million of availability under the Company’s ABL Facility plus $130 million of cash.
The following information was filed by Aleris International, Inc. on Thursday, August 2, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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