Novelis closes on Aleris purchase

Market: Metals
14/04/20

Atlanta-based aluminum rolling mill Novelis closed today on its $2.8bn acquisition of competitor Aleris, adding 13 plants across North America, Europe and Asia to its operations.

The company cleared all remaining regulatory hurdles last week when it received permission from EU regulators to sell Aleris' Duffel, Belgium, automotive sheet mill to Liberty House Group. Novelis initially agreed to acquire Aleris in July 2018.

Following the transaction, Novelis must also find a buyer for the Lewisport, Kentucky, mill to satisfy US antitrust requirements.

By John Betz

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