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.
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.