Aleris Announces Enhanced Liquidity Measures

    BEACHWOOD, Ohio, Sept. 15 /CNW/ -- Aleris Announces Enhanced Liquidity
Measures.  In response to the current environment of historically high prices
and volatility in the forward aluminum price on the London Metal Exchange
(LME), Aleris has taken steps to preserve its existing liquidity position and
enhance its liquidity position going forward.
    As of June 30, 2008, Aleris had over $440 million of revolver and cash
availability.  In order to preserve this level of liquidity in the current
environment of increased volatility of the LME, Aleris has increased the size
of its revolving credit facility by $244 million from up to $850 million to up
to approximately $1.1 billion, subject to applicable borrowing bases.  This
increase will help Aleris maintain its June 30, 2008 liquidity position by
providing increased availability under its revolving credit facility in the
event, and as a result, of the LME continuing its long-term upward trend.
    In addition, Aleris has adjusted its metal hedging strategy to preserve
our liquidity position by unwinding certain hedges that are related to base
inventory levels, which will expose the Company to more metal price lag or
one-time timing difference between the cost of metal and the price of metal
sold.  Aleris believes that exposing a greater portion of its inventory to
metal price lag will enhance its liquidity position during this period of
aluminum price volatility.  This adjustment in hedging strategy, which will
result in payments to settle hedge contracts, coupled with the recent decline
in the LME from its all time high (though still at historically high levels),
which negatively impacted selling prices, will result in third quarter
adjusted EBITDA from continuing operations to be negatively impaired by metal
price lag.  Aleris expects this negative impact to be more than offset by
positive free cash flow associated with the decline in the LME that will
result in lower working capital needs.
    Aleris believes these measures will maintain its current liquidity
position and should facilitate our ability to react to an unexpected increase
in the LME.
    About Aleris
    Aleris International, Inc. is a global leader in aluminum rolled products
and extrusions, aluminum recycling and specification alloy production.
Headquartered in Beachwood, Ohio, a suburb of Cleveland, the Company operates
over 40 production facilities in North America, Europe, South America and
Asia, and has approximately 8,400 employees.  For more information about
Aleris, please visit our Web site at
    Forward-looking statements made in this news release are made pursuant to
the safe harbor provision of the Private Securities Litigation Reform Act of
1995.  These include statements that contain words such as "believe,"
"expect," "anticipate," "intend," "estimate," "should" and similar expressions
intended to connote future events and circumstances, and include statements
regarding future actual and adjusted earnings; future improvements in margins,
processing volumes and pricing; overall 2008 operating performance;
anticipated effective tax rates; expected cost savings; success in integrating
Aleris's acquisitions, including the acquisition of the downstream aluminum
businesses of Corus Group plc; its future growth; the anticipated economic
environment in 2008; future benefits from acquisitions and new products;
expected benefits from changes in the industry landscape; and anticipated
synergies resulting from the acquisition of the downstream aluminum businesses
of Corus Group plc and other acquisitions.  Investors are cautioned that all
forward-looking statements involve risks and uncertainties, and that actual
results could differ materially from those described in the forward-looking
statements.  These risks and uncertainties would include, without limitation,
Aleris's levels of indebtedness and debt service obligations; its ability to
effectively integrate the business and operations of its acquisitions; further
slowdowns in automotive production in the U.S. and Europe; the financial
condition of Aleris's customers and future bankruptcies and defaults by major
customers; the availability at favorable cost of aluminum scrap and other
metal supplies that Aleris processes; the ability of Aleris to enter into
effective metals, natural gas and other commodity derivatives; continued
increases in natural gas and other fuel costs of Aleris; a weakening in
industrial demand resulting from a decline in U.S. or world economic
conditions, including any decline caused by terrorist activities or other
unanticipated events; future utilized capacity of Aleris's various facilities;
a continuation of building and construction customers and distribution
customers reducing their inventory levels and reducing the volume of Aleris's
shipments; restrictions on and future levels and timing of capital
expenditures; retention of Aleris's major customers; the timing and amounts of
collections; currency exchange fluctuations; future write-downs or impairment
charges which may be required because of the occurrence of some of the
uncertainties listed above; and other risks listed in Aleris's filings with
the Securities and Exchange Commission (the "SEC"), including but not limited
to Aleris's annual report on Form 10-K for the fiscal year ended December 31,
2007 and quarterly report on Form 10-Q for the quarter ended June 30, 2008,
particularly the sections entitled "Risk Factors" contained therein.
    (Logo: )


For further information:

For further information: Sean M. Stack, Aleris International, Inc.,
+1-216-910-3504 Web Site:

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