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|For Information: Sean M. Stack||For Immediate Release|
|Telephone: (216) 910-3504||August 11, 2008|
Aleris Reports Second Quarter Results
BEACHWOOD, Ohio August 11, 2008 Aleris International, Inc. today reported results for the quarter ended June 30, 2008.
Second Quarter Highlights
EBITDA from continuing operations, excluding special items, improved by 8% to $104.5 million in the second quarter of 2008 from $96.9 million in the second quarter of 2007 despite continued softening in the underlying global economy
Continued the execution of cost initiatives targeting plant and overhead optimization to drive operating cost reductions, improve productivity and respond to North American volume declines
Productivity savings and acquisition synergies totaled $29 million in the quarter which more than offset continued increased commodity cost and general inflation
Beginning to realize the benefits from our strategic capacity expansions in Europe through margin and mix improvements
Initiated price increases in response to the increased cost inflation hitting our business
Strengthened management team with the addition of Galdino Claro as CEO of Americas region
Pro forma adjusted EBITDA from continuing operations, including synergies, was $393 million for the twelve months ended June 30, 2008 and our liquidity was $442 million
The following information was filed by Aleris International, Inc. on Monday, August 11, 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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