Aleris Goes Bankrupt As Aluminum Prices Plunge
The Beachwood, Ohio-based company filed its Chapter 11 petition with the U.S. Bankruptcy Court for the District of Delaware, reporting assets of about $4.9 billion and liabilities of about $4.2 billion as of the end of September.
Though Aleris' U.S. subsidiaries also declared bankruptcy, its European, Asian, South American, Mexican and Canadian operations were not included in the filing.
"We have moved aggressively...
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