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|For Information: Sean M. Stack||For Immediate Release|
|Telephone: (216) 910-3504||May 14, 2008|
Aleris Reports First Quarter Results
BEACHWOOD, Ohio May 14, 2008 Aleris International, Inc. today reported results for the quarter ended March 31, 2008.
First Quarter Highlights
Sequential adjusted EBITDA from continuing operations, excluding special items, improved to $79 million in the first quarter of 2008 from $49 million in the fourth quarter of 2007 despite continued softening in the underlying economy
Successful capacity ramp-up of 160 inch hotmill in Koblenz, Germany; continues our strategic expansion into high value-added aerospace and other end-uses
Completed sale of Zinc Business for $295 million allowing greater focus on aluminum business
Announced five plant closings or idlings to drive operating cost reductions, improved productivity and to respond to North American demand declines
Productivity savings and acquisition synergies totaled $27 million in the quarter which more than offset continued commodity and general inflation
Strengthened management team with the addition of Roeland Baan as President, Aleris Europe
Pro forma adjusted EBITDA from continuing operations, including synergies, was $392 million for the twelve months ended March 31, 2008
Expanded Aleris Board of Directors with the addition of J. Steven Whisler, former Chairman and CEO of Phelps Dodge Corporation
The following information was filed by Aleris International, Inc. on Wednesday, May 14, 2008 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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