World Aluminium Market
Aleris International reports lower first-quarter sales and earnings
Edited by : AL CIRCLE
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Aleris International Inc. has reported lower first-quarter sales and earnings.
Privately held Aleris said its net income in the quarter slid 16%, to $48 million from $57 million. Aleris said results in the latest first quarter were hurt by a $2 million increase in start-up expenses related to its aerospace plate mill in Zhenjiang, China, $3 million of higher interest expense, $4 million of higher income tax provisions compared to the first quarter of 2011, and what it called “a $4 million unfavorable variation” related to a 2011 gain on the sale of land in Europe.
Sales at Aleris declined 4%, to $1.14 billion from $1.19 billion.
Aleris is a maker of aluminum rolled products and extrusions, and an aluminum recycle
Privately held Aleris said its net income in the quarter slid 16%, to $48 million from $57 million. Aleris said results in the latest first quarter were hurt by a $2 million increase in start-up expenses related to its aerospace plate mill in Zhenjiang, China, $3 million of higher interest expense, $4 million of higher income tax provisions compared to the first quarter of 2011, and what it called “a $4 million unfavorable variation” related to a 2011 gain on the sale of land in Europe.
Sales at Aleris declined 4%, to $1.14 billion from $1.19 billion.
Aleris is a maker of aluminum rolled products and extrusions, and an aluminum recycle
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