Aluminum products producer Aleris acquires sheet producer Nichols Aluminum
February 12, 2014
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Aleris, Cleveland, Ohio, has signed a definitive agreement to acquire Nichols Aluminum, LLC, a wholly owned subsidiary of Quanex Building Products Corp. Nichols is a leading producer of aluminum sheet for the transportation, building and construction, machinery and equipment, consumer durables, and electrical industries in North America. The acquisition includes two production facilities in Davenport, Iowa; a facility in Decatur, Alabama; and a facility in Lincolnshire, Illinois. The company has agreed to pay $110 Million in an all-cash transaction.
"Nichols has a long history of producing flat-rolled aluminum sheet products for customers in a number of key industries across North America and we look forward to continuing that long-standing tradition," says Steve Demetriou, Aleris chairman and CEO. "This acquisition is consistent with our strategy to expand our footprint and enhance our capabilities to ensure we are well-positioned to respond to projected growth in our key end uses as the economy begins to recover."
Upon the close of the transaction, Nichols will become part of Aleris' Rolled Products North America business, adding more than 500 Nichols employees to the Aleris team.
Aleris is a privately held, global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Cleveland, Ohio, Aleris operates approximately 40 production facilities in North America, Europe, and Asia.
www.aleris.com
Aleris, Cleveland, Ohio, has signed a definitive agreement to acquire Nichols Aluminum, LLC, a wholly owned subsidiary of Quanex Building Products Corp.
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IHEA announces 2013-2014 board and officers
December 4, 2013
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The Industrial Heating Equipment Association, Taylor Mill, Ky., recently announced its 2013-14 Board of Directors and Officers. Serving as president (shown in the photo) is Tim Lee of Maxon, a division of Honeywell. Bob Green of Bloom Engineering was named IHEA Vice-President, and B.J. Bernard of Surface Combustion was elected Treasurer. Outgoing president Mike Shay of Elster Kromschröder, assumes the role of Past President.
IHEA is very pleased to re-elect Jay Cherry, Wellman Furnaces, and Doug Glenn, BNP Media, each to serve another three-year term. Continuing their service on the Board of Directors for 2013-2014 are Keith Boeckenhauer, Seco/Warwick; David Bovenizer, Selas Heat Technology Co.; Mike Chapman, Vulcan Catalytic Systems; Daniel Llaguno, Nutec Bickley; John Podach, Fostoria Process Equip. - a Division of TPI; John Searle, Eclipse, Inc.; and John Stanley, Karl Dungs, Inc.
IHEA's new president Tim Lee states, "It is an honor and privilege to serve as President of the Industrial Heating Equipment Association's Board of Directors, which consists of so many highly respected leaders in our industry. I believe the ongoing quality and expertise of our board members positions IHEA for continued success and future growth potential. I look forward to continuing on the path carved by my predecessors which has established IHEA as the entity where all manufacturers of process heating equipment and associated service providers work together for the benefit of the industry. IHEA continues to follow the bold mission statement of 'Driving Members Success by Providing the Knowledge Base and Authoritative Voice for Industrial Process Heating Worldwide.' We look forward to another successful year of providing valuable benefits and services to our industry."
www.ihea.org
The Industrial Heating Equipment Association, Taylor Mill, Ky., recently announced its 2013-14 Board of Directors and Officers. Serving as president (shown in the photo) is Tim Lee of Maxon, a division of Honeywell. Bob Green of Bloom Engineering was named IHEA Vice-President, and B.J. Bernard of Surface Combustion was elected Treasurer. Outgoing president Mike Shay of Elster Kromschröder, assumes the role of Past President.
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