Jul 5 2006
Aleris International has announced several organizational changes related to its planned acquisition of the downstream aluminum businesses of Corus Group plc.
Sean M. Stack, currently Senior Vice President, Treasurer and Corporate Development of Aleris, will become Executive Vice President of Aleris and President-Europe upon completion of the pending Corus Aluminum acquisition. He will have regional leadership responsibility for all of the European aluminum rolled products and extrusion businesses to be acquired from Corus as well as responsibility for all of Aleris's existing European-based aluminum recycling and specification alloy businesses. Corus Aluminum's Canadian operations will report to John Wasz, Executive Vice President, Aleris and President, Aleris Rolled Products, North America. Mr. Stack joined Aleris in 2004. Previously, Mr. Stack served as Vice President and Treasurer of Commonwealth Aluminum, and was Vice President and Treasurer of Noveon, Inc. prior to that.
Alfred Haszler, currently Managing Director of Corus Aluminum Rolled Products, will become, upon the closing of the pending Corus Aluminum acquisition, Senior Vice President of Aleris and President, Aleris Rolled and Extruded Products-Europe. He will have responsibility for the European rolled products business, as well as the aluminum extrusions business. Werner Graf will continue to lead the extrusion business as Managing Director, reporting to Mr. Haszler. In his new position, Mr. Haszler will report jointly to Steve Demetriou, Chairman and CEO of Aleris and Sean Stack. Mr. Haszler has served in his current position since 2004, and has worked in various management positions with Corus and the Koblenz plant operations in Germany since 1970.
Gerhard Buddenbaum, Executive Director, Corus Aluminum Division and a member of the Corus Group plc. Executive Committee previously announced his retirement from Corus, effective June 30. He will be retained by Aleris following the acquisition as a senior consulting advisor.
Commenting on the leadership announcements, Mr. Demetriou said, "Alfred Haszler and Sean Stack will bring aggressive and top quality leadership to our expanding European business. Alfred Haszler is well known in the rolled products industry and will lead one of the most capable and technically proficient businesses in our industry. Sean Stack brings financial acumen and strategic vision to our European businesses. Under their leadership, I am confident we will have one of the strongest leadership teams in our industry."
He went on to say, "We look forward to having Gerhard Buddenbaum on our team. He has been a dynamic executive in the aluminum industry throughout his long and distinguished career.
The organizational changes are expected to take effect upon the closing of the pending Corus transaction. The closing of the acquisition is envisaged in the third quarter of 2006.
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