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Aug. 23, 2012
Sales, Profits Decline in Second Quarter for Aleris
Aleris International, Cleveland, reported net income of $34 million during its second quarter, a decline of 39.2 percent from the same period in 2011. For the first six months, net income declined 28.0 percent to $82 million.
While Aleris saw increases in global aerospace and automotive market segments, plus increased demand from North American building and construction customers, lower demand in Europe resulted in a 4 percent decline in volumes for the quarter.
Second-quarter net sales for Aleris totaled $1.2 billion, down 11.8 percent. For the first half, net sales totaled 2.3 billion, down 8.2 percent from 2011.
While the company enjoyed an improved product mix, it was offset by a 24 percent decline in LME prices, a stronger U.S. dollar and weaker demand from Europe.
Income in the company’s Rolled Products North America segment increased 12.9 percent to $35 million in the quarter, while volumes were up 3 percent. The volume growth was driven by increased demand from customers in the building and construction industry and other general industrial customers due to general U.S. economic improvements.
Aleris Extrusions segment income increased 88 percent to $5 million in the second quarter. Profitability was positively affected by a higher value-added product mix, which more than offset a 10 percent decline in overall volume, the company said.
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