05 NOVEMBER 2014Aleris Press Release
Aleris reports update on Recycling and Specification Alloy Business
Edited by : AL CIRCLE
2 min read
Aleris Corporation reported results for the three and nine months ended September 30, 2014. The company updates the following about their Recycling and Specification Alloy Business:
Recycling and Specification Alloys North America ("RSAA")
RSAA's segment income and segment Adjusted EBITDA increased to $20 million in the third quarter of 2014 from $16 million in the third quarter of 2013. Performance drivers included:
• continued improvement in metal spreads, partly driven by customer and product mix increased segment Adjusted EBITDA by $5 million; and
• higher costs associated with inflation in employee and energy costs exceeded productivity gains and decreased segment Adjusted EBITDA by $1 million.
Recycling and Specification Alloys Europe ("RSEU")
RSEU's segment income and segment Adjusted EBITDA increased to $5 million in the third quarter of 2014 from $4 million in the third quarter of 2013. A 3 percent increase in volume and an improved mix of products sold resulted in a $1 million increase in segment Adjusted EBITDA.
Recycling and Specification Alloys Divestiture
On October 17, 2014, Aleris announced that it entered into a definitive agreement to sell its North American and European recycling and specification alloys businesses to Signature Group Holdings ("Signature") and certain of its affiliates. These businesses include substantially all of the operations and assets included in our RSAA and RSEU segments.
Recycling and Specification Alloys North America ("RSAA")
RSAA's segment income and segment Adjusted EBITDA increased to $20 million in the third quarter of 2014 from $16 million in the third quarter of 2013. Performance drivers included:
• continued improvement in metal spreads, partly driven by customer and product mix increased segment Adjusted EBITDA by $5 million; and
• higher costs associated with inflation in employee and energy costs exceeded productivity gains and decreased segment Adjusted EBITDA by $1 million.
Recycling and Specification Alloys Europe ("RSEU")
RSEU's segment income and segment Adjusted EBITDA increased to $5 million in the third quarter of 2014 from $4 million in the third quarter of 2013. A 3 percent increase in volume and an improved mix of products sold resulted in a $1 million increase in segment Adjusted EBITDA.
Recycling and Specification Alloys Divestiture
On October 17, 2014, Aleris announced that it entered into a definitive agreement to sell its North American and European recycling and specification alloys businesses to Signature Group Holdings ("Signature") and certain of its affiliates. These businesses include substantially all of the operations and assets included in our RSAA and RSEU segments.
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