China Zhongwang Basically Completes Its First Overseas Acquisition

SHANGHAI, Aug. 29 (SMM) – In August 2017, Zhongwang Aluminium Deutschland GmbH, an indirect wholly-owned subsidiary of China Zhongwang, basically completed acquisition of Aluminiumwerk Unna AG (Alunna).

CITIC Trust Buys into China Hongqiao on Optimism over Aluminum Industry

Upon completion of the acquisition, the subsidiary will hold 99.72% stake in Alunna.

Aluminum Price Rise Cycle Just Begins

The acquisition will substantially improve Zhongwang’s capability in seamless tube extrusion and further optimize its product mix. It will also accelerate the business expansion of Zhongwang into aviation, automobile and other industries on the strength of Alunna’s product credentials and its experience in customer development.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.