Aleris International Inc. has agreed to sell its US Zinc business to affiliates of Votorantim Metais Ltda. for $295 million. Aleris is a Beachwood, Ohio-based metals company taken private late last year by TPG Capital.
Aleris International, Inc. announced today it has entered into a definitive agreement to sell its Zinc business, which operates under the name US Zinc, to affiliates of Votorantim Metais Ltda. for $295 million with certain adjustments for working capital and other items. Closing is subject to regulatory approvals and customary closing conditions.
Steven J. Demetriou, Aleris's Chairman and Chief Executive Officer, said, “The sale of US Zinc will allow Aleris to focus on our core Aluminum business. We plan to use the net sale proceeds to reduce leverage. I would like to thank the US Zinc team for their
significant contributions to Aleris.”
Aleris International, Inc. is a global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Beachwood,