Baltimore-based Wise Metals Group LLC gets new funding
Daily Record, The (Baltimore), Oct 5, 2007
Wise Metals Group LLC, of Baltimore, a manufacturer of aluminum beverage can stock and rolled aluminum products, announced a new, $75 million convertible preferred equity transaction with the Retirement Systems of Alabama, expanding an existing relationship. RSA, which manages approximately $32 billion in public employees' pension funds, previously provided debt funding of $30 million to Wise Metals Group.
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The new funding will be used to provide working capital and support business operations for Wise's expanding can sheet business and its increasing commercial alloys business.
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