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LEWISPORT, Ky. - A major local employer filed for bankruptcy protection this month, citing the impact of the global recession.
Aleris International Inc. and its wholly-owned U.S. subsidiaries filed petitions Feb. 12 for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code.
The company said the action was taken as a result of financial constraints related to the deteriorating global economic situation, declining industrial demand and a sudden drop in aluminum prices.
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