Aleris was only formed a couple years ago by the merger of Commonwealth Industries of Kentucky and Imco Recycling of Texas. And this summer it bought the London-based aluminum company Corus. Now Texas Pacific has purchased it for $3.3 billion, but the Aleris headquarters will remain in Beachwood under the Chairman and CEO Stephen Demetriou. He once ran the Cleveland chemical company Noveon.
Aleris has 8,600 employees with facilities in Bedford and Elyria and 48 other operations spread over North America, Europe, Asia and South America. Texas Pacific is a private investment which reportedly has holdings in everything from Burger King to MGM to Continental Airlines. Mark Urycki, 90.3.