China Zhongwang to Acquire Aleris for $2.33 Billion

SHANGHAI, Aug. 31 (SMM) – Zhongwang USA LLC, an entity controlled by China Zhongwang's founder Liu Zhongtian, announced August 29 to buy Aleris Corporation for $2.33 billion, according to China Zhongwang's website. 

The deal marks the biggest acquisition overseas by Chinese aluminum processor.

The acquisition will allow Aleris to maintain its good image in international market and strengthen Zhongwang’s leadership in aluminum extrusion industry as well as bring Zhongwang a step further toward global market, Wen Xianjun, Deputy General of China Nonferrous Metals Industry Association (CNIA) said.  

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