Zhongwang extrusions

Zhongwang Limiting Aluminium Operations In Europe Due To COVID-19 Market Effects, Ongoing Anti-Dumping Investigations

Zhongwang Limiting Aluminium Operations In Europe Due To COVID-19 Market Effects, Ongoing Anti-Dumping Investigations

A pair of sources alleging knowledge of the matter told Reuters on Monday that China Zhongwang Group is drawing down its sales in Europe due to the ongoing anti-dumping investigations and the pandemic-affected market. “We do not know if we are closing...

Events

Liu Zhongtian – A Magnet for Controversy

The Chinese aluminium magnate Liu Zhongtian has been busy over the past several months. His latest move, namely his firm’s purchase of US firm Aleris, came as a shock to many in the market for a variety of reasons. Zhongwang USA LLC, an investment company owned by China Zhongwang’s parent company Zhongwang International Group Ltd, […]

Aleris Purchased by Zhongwang for US$2.33 bln

Cleveland’s Aleris Corporation announced today that it has been purchased by Zhongwang USA LLC, a firm owned by China Zhongwang’s Liu Zhongtian. According to the press release, the purchase price was US$2.33 billion. Aleris indicated that the purchase price was made up of US$1.1 billion in cash, with the balance being debt. Zhongwang, which is […]

China Zhongwang to Spin Off Extrusions Business As Founder Resigns

China Zhongwang Holdings Limited announced this week that it will spin off its industrial extrusion business and list it in Shanghai. At the same time, the firm separately announced the resignation of its founder and long-time president Liu Zhongtian, which is likely to raise further questions about Zhongwang’s past. While Zhongwang was Hong Kong’s largest […]