Aleris to Invest in China
Aleris signed a Letter of Intent with the Zhenjiang Municipal People's Government in Zhenjiang City, Jiangsu Province, China, regarding a potential new investment of approximately $200 million by 2014 for the production of aluminum coil and sheet for automotive applications. If approved, construction of new production capacity would be expected to begin by the end of 2012. Earlier this year, Aleris began construction of a $300 million greenfield rolling mill in Zhenjiang City, with completion expected in the fourth quarter of 2012. A joint venture of Aleris and Zhenjiang Dingsheng Aluminum Industries Joint-Stock Co. Ltd., the facility will initially produce aluminum plate for the aerospace, general engineering, tooling and molding, petrochemical and transportation industries.
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