RESTATED CERTIFICATE OF INCORPORATION

 

                                       OF

 

                          COMMONWEALTH INDUSTRIES, INC.

 

 

                  Commonwealth Industries, Inc., a Delaware

 

corporation, hereby certifies as follows:

 

                  FIRST. The name of the corporation is Commonwealth Industries,

Inc. The date of filing of its original  certificate of  incorporation  with the

Secretary  of State of the State of Delaware  was December 10, 1984 and the name

under which it was originally incorporated was Comalco (U.S.)

Holding, Inc.

 

                  SECOND.  This restated  certificate of incorporation  has been

duly adopted in  accordance  with the  provisions  of Section 245 of the General

Corporation  Law of the State of Delaware.  It only restates and  integrates and

does not further amend the provisions of the certificate of incorporation of the

corporation as heretofore  amended or  supplemented  and there is no discrepancy

between those provisions and the provisions of this restated certificate.

 

                  THIRD. The text of the certificate of incorporation is hereby

restated to read in its entirety as follows:

 

                                    ARTICLE I

 

                                      Name

 

                  The name of the corporation is Commonwealth Industries, Inc.

 

                                   ARTICLE II

 

                       Registered Office; Registered Agent

 

                  The  address  of the  corporation's  registered  office in the

State of Delaware is Corporation Trust Center, 1209 Orange Street in the City of

Wilmington,  County  of New  Castle.  The name of its  registered  agent at such

address is The Corporation Trust Company.

 

 

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                                   ARTICLE III

 

                                     Purpose

 

                  The purpose of the  corporation is to engage in any lawful act

or  activity  for  which   corporations  may  be  organized  under  the  General

Corporation Law of the State of Delaware.

 

                                   ARTICLE IV

 

                                     Shares

 

                  The total  number of shares of all  classes of stock which the

corporation  shall have  authority to issue is 51,000,000,  of which  50,000,000

shares of the par value of $.01 per share shall be  designated  as Common  Stock

and  1,000,000  shares of the par value of $.01 per share shall be designated as

Preferred Stock.

 

                  Shares of Preferred Stock may be issued in series from time to

time by the  board  of  directors,  and the  board  of  directors  is  expressly

authorized to fix by resolution or resolutions the  designations and the powers,

preferences and rights,  and the  qualifications,  limitations and  restrictions

thereof,  of the shares of each series of  Preferred  Stock,  including  without

limitation the following:

 

                  (a)  the distinctive serial designation of such series which

shall distinguish it from other series;

 

                  (b) the number of shares included in such series, which number

         may be  increased  or  decreased  from  time to time  unless  otherwise

         provided by the board of directors  in the  resolution  or  resolutions

         providing for the issue of such series;

 

                  (c) the  dividend  rate (or method of  determining  such rate)

         payable to the  holders of the shares of such  series,  any  conditions

         upon  which  such  dividends  shall be paid and the date or dates  upon

         which such dividends shall be payable;

 

                  (d) whether  dividends  on the shares of such series  shall be

         cumulative  and, in the case of shares of any series having  cumulative

         dividend rights, the date or dates or method of determining the date or

         dates  from  which  dividends  on the  shares of such  series  shall be

         cumulative;

 

                  (e) the amount or amounts  which  shall be payable  out of the

         assets of the  corporation  to the holders of the shares of such series

         upon  voluntary or involuntary  liquidation,  dissolution or winding up

         the corporation;

 

                  (f) the price or prices at which, the period or periods within

         which and the terms and conditions upon which the shares of such series

         may be redeemed,  in whole or in part, at the option of the corporation

         or at the option of the holder or holders thereof or upon the happening

         of a specified event or events;

 

                  (g) the obligation,  if any, of the corporation to purchase or

         redeem  shares of such series  pursuant to a sinking  fund or otherwise

         and the price or prices at which,  the period or periods  within  which

         and the terms and conditions upon which the shares of such series shall

         be  redeemed  or  purchased,  in  whole or in  part,  pursuant  to such

         obligation;

 

                  (h)  whether  or not  the  shares  of  such  series  shall  be

         convertible or exchangeable,  at any time or times at the option of the

         holder or holders  thereof or at the option of the  corporation or upon

         the happening of a specified event or events,  into shares of any other

         class or classes or any other  series of the same or any other class or

         classes of stock of the corporation, and the price or prices or rate or

         rates of exchange or conversion and any adjustments applicable thereto;

         and

 

                  (i)  the voting rights, if any, of the holders of the shares

         of such series.

 

                                    ARTICLE V

 

                                     By-Laws

 

                  The  board  of  directors  of  the  corporation  is  expressly

authorized to adopt, amend or repeal by-laws of the corporation.

 

                                   ARTICLE VI

 

                                    Directors

 

                  Elections of directors  need not be by written  ballot  except

and to the extent provided in the by-laws of the corporation.

 

                  The number of directors of the corporation shall be fixed from

time to time  pursuant to the by-laws of the  corporation.  The directors of the

corporation  shall be divided into three  classes,  as nearly equal in number as

reasonably possible,  as determined by the board of directors,  with the initial

term of office  of the first  class of such  directors  to expire at the  annual

meeting of  stockholders in 1996, the initial term of office of the second class

of such  directors  to  expire  at the  first  annual  meeting  of  stockholders

thereafter  and the initial term of office of the third class of such  directors

to expire at the second annual  meeting of  stockholders  thereafter,  with each

class of directors to hold office until their  successors have been duly elected

and  qualified.  At each annual  meeting of  stockholders  directors  elected to

succeed the directors whose terms expire at such annual meeting shall be elected

to hold office for a term expiring at the annual meeting of  stockholders in the

third year following the year of their election and until their  successors have

been duly elected and  qualified.  If the number of  directors  is changed,  any

increase or decrease shall be apportioned among the classes so as to maintain or

attain  a number  of  directors  in each  class as  nearly  equal as  reasonably

possible, but no decrease in the number of directors may shorten the term of any

incumbent director. No director may be removed except for cause. This Article VI

may not be amended,  modified or repealed except by the affirmative  vote of the

holders of not less than 80% of the voting  power of all  outstanding  shares of

capital stock of the  corporation  entitled to vote generally in the election of

directors, considered for purposes hereof as a single class.

 

                  In the event that the  holders of any class or series of stock

of the corporation shall be entitled, voting separately as a class, to elect any

directors of the  corporation,  then the number of directors that may be elected

by such holders shall be in addition to the number fixed pursuant to the by-laws

and,  except as  otherwise  expressly  provided  in the  terms of such  class or

series,  the terms of the directors  elected by such holders shall expire at the

annual meeting of stockholders  next succeeding their election without regard to

the classification of the remaining directors.

 

                                   ARTICLE VII

 

                      Stockholder Action by Written Consent

 

                  Any action required or permitted to be taken by the holders of

Common Stock of the  corporation,  including  but not limited to the election of

directors,  may be taken by written consent or consents but only if such consent

or consents are signed by all holders of Common  Stock  entitled to vote on such

action.

 

                                  ARTICLE VIII

 

                      Limitation of Liability of Directors

 

                  A  director  of the  corporation  shall  not be  liable to the

corporation  or its  stockholders  for monetary  damages for breach of fiduciary

duty as a director,  except to the extent that such  exemption from liability or

limitation  thereof is not permitted  under the General  Corporation  Law of the

State of Delaware.  No  amendment,  modification  or repeal of this Article VIII

shall adversely  affect any right or protection of a director that exists at the

time of such amendment, modification or repeal.

 

                  IN WITNESS WHEREOF, Commonwealth Industries, Inc. has caused

this certificate to be signed by Mark V. Kaminski, its President, on the 17th

day of April, 1997.

 

 

 

                                                       /s/ MARK V. KAMINSKI

                                                          Mark V. Kaminski