Quanex Signs Agreement To Sell Nichols Aluminum

(RTTNews) - Quanex Building Products Corp. (NX), a components supplier for the window and door industry, Monday signed a purchase agreement to sell its interest in Nichols Aluminum LLC, a wholly owned subsidiary, to Aleris for $110 million in cash.

"As the housing markets continue to recover, we see great opportunity for both organic and acquisitive growth in our Engineered Products Group," said Bill Griffiths, Quanex CEO.

"This transaction will allow us to focus all our energies and capital on enhancing our position as a leading window and door component supplier both domestically and internationally."