Aleris International Receives Final Court Approval for its Debtor-In-Possession Financing

BEACHWOOD, Ohio, March 18 /PRNewswire/ -- Aleris International, Inc. announced today that following a hearing on Monday, March 16, the U.S. Bankruptcy Court for the District of Delaware has granted final approval for the company's debtor-in-possession ("DIP") credit facility in connection with its previously announced Chapter 11 filing on February 12, 2009. The $1.075 million DIP credit facility, which includes a new $500 million term loan and a $575 million revolving credit facility, will be used for the Company's normal operating and working capital requirements during its reorganization process. Steven J. Demetriou, Aleris Chairman and CEO, said, "We are pleased to have received the final approval of our DIP facility, and the continued support from our lenders. The DIP facility enables us to continue to provide our employees with pay and benefits, make post-petition payments to suppliers, and continue to satisfy our customer commitments." The Aleris Chapter 11 case number is 09-10478, with the Honorable Brendan Shannon presiding. More information about Aleris's restructuring is available at www.Aleris.com/restructure. Court filings and claims information are available at www.kccllc.net/Aleris. About Aleris Aleris International, Inc. is a global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Beachwood, Ohio, a suburb of Cleveland, the Company operates over 40 production facilities in North America, Europe, South America and Asia, and employs approximately 8,400 employees. For more information about Aleris, please visit our Web site at www.Aleris.com.