Aleris receives exclusivity extension to complete plan process

By Caroline Salls

Pittsburgh, Dec. 30 - Aleris International, Inc. obtained an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to June 7 from Dec. 9 and the solicitation period to Aug. 6, 2010 from Feb. 7.

According to the motion, Aleris has made progress in reviewing the more than 3,900 proofs of claim filed against it, but it still has significant work remaining.

In addition, the company said it is in ongoing negotiations regarding a plan that would include a substantial investment of new capital, but it needs more time to complete the plan process.

Aleris, a Beachwood, Ohio-based producer of aluminum rolled products and extrusions, aluminum recycling and specification alloy, filed for bankruptcy on Feb. 12, 2009. Its Chapter 11 case number is 09-10478.

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