Aleris to Acquire Nichols Aluminum
Aleris signed a definitive agreement to acquire Nichols Aluminum, a wholly owned subsidiary of Quanex Building Products Corp. and a leading producer of aluminum sheet for several key industries across North America, for $110 million. The deal includes two production facilities in Davenport, Iowa, as well as facilities in Decatur, Ala., and Lincolnshire, Ill. Upon close of the transaction, Nichols Aluminum will become part of Aleris' Rolled Products North America business, adding more than 500 employees to the team. Cleveland, Ohio-based Aleris, a global leader in aluminum rolled products and extrusions, operates approximately 40 production facilities in North America, Europe and Asia.