New Owner For Nichols Aluminum In Davenport - News and Weather For The Quad Cities -

New Owner For Nichols Aluminum In Davenport

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The Nichols Aluminum plants in Davenport are getting a change in ownership as part of a multi-million dollar cash transaction.

Nichols Aluminum, LLC is being acquired by Aleris--another aluminum manufacturing company.

Aleris has agreed to pay Quanex Building Products Corporation $110 million in cash for Nichols. The deal includes a plant in Alabama and Lincolnshire, Illinois, moving more than 500 jobs under Aleris.

The transaction is expected to close following regulatory approvals.

About Aleris from its website:

Aleris is a privately held, global leader in aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Headquartered in Cleveland, Ohio, Aleris operates approximately 40 production facilities in North America, Europe and Asia. For more information, visit