Aleris Reports Second Quarter 2012 Results

　　Year-to-Date Results

　　Key financial highlights for the six months ended June 30, 2012 include:

　　Revenues of approximately $2.3 billion compared to approximately $2.5 billion for the prior year period, a decrease of 8 percent attributable to lower volumes, lower LME prices and a stronger U.S. dollar, offset partially by improved product mix and commercial pricing efforts that drove higher rolling margins.

　　Net income attributable to Aleris International, Inc. was $82 million, compared to approximately $114 million for the prior year period.

　　Adjusted EBITDA decreased 2 percent to $170 million from $173 million, with approximately $24 million attributable to tighter scrap and metal spreads, partially offset by higher North American rolling margins and selling prices for extruded products, AOS-related productivity savings, which offset inflation, lower research and development spending and positive currency impacts.

　　Cash provided by operating activities of $36 million compared to cash provided of $25 million for the prior year period. The increase was driven by working capital productivity and lower LME prices.

　　Capital expenditures increased to $189 million from $62 million during the prior year period as spending on the Company's strategic growth initiatives continued to progress as planned.