Aleris Corporation reported fourth quarter and full year results ending on December 31, 2015, which reflect the divested recycling and extrusions businesses as discontinued operations. “A better than projected fourth quarter caps off a strong 2015, during which we completed the transformation of Aleris into a global rolled products company,”said Sean Stack, Aleris president and CEO, “a strategy that has been validated by demand growth for both our aerospace and automotive products which has led to enhanced profitability and improved overall performance.”
Capital expenditures were $139 million in the fourth quarter of 2015, the majority of which was spent on the Lewisport, Kentucky, autobody sheet project and related spending to upgrade critical equipment and capabilities at the facility. That project continues to progress on schedule with shipments anticipated to commence in 2017.
“With the successful implementation of our growth projects in Europe and Asia Pacific and the progress we’ve made on our automotive expansion project in the U.S., we are well-positioned to continue to meet the projected increase in demand from these high-value industries as well as the building and construction industry in North America,” reported Stack. “We will continue to build on our momentum in 2016 by driving strong execution through our operational excellence initiatives and continued focus on technology and new product development, which will further enable us to serve our customers’ needs.”