Taxes, Expenses, and Losses from Sale of Aluminium Recycling Business Weigh Down Aleris’ Bottom Line
Cleveland rolled aluminium firm Aleris International, Inc. released results for 2017’s final quarter and full year yesterday. The firm’s bottom...
Zhongwang USA LLC
Zhongwang’s Liu Zhongtian Indicted By United States Government For Allegedly Evading US$2 Billion In Aluminium Tariffs
Aluminium behemoth China Zhongwang Holdings Ltd founder Liu Zhongtian has been indicted by the United States government on charges that he conspired to evade almost US$2 billion in import tariffs. According to the 53-page indictment, which was presented to a federal grand...
Carson Block Clears The Air With Revelation of Muddy Waters’ Authorship of Critical 2015 Anonymous Report on China Zhongwang
The identity of an anonymous short seller whose report led to turmoil for China Zhongwang Group as well as drawing...
Merger Agreement Between Zhongwang USA and Aleris Called Off After 15 Months
The fifteen-month-long struggle to merge Aleris Corporation, Inc. and Zhongwang USA, LLC was officially ended yesterday after both parties agreed...
Events
Sources Say Aditya Birla Readying Offer for Aleris
According to sources who spoke with domestic media, Aditya Birla Group is preparing to make an offer for Hindalco’s extruded aluminium subsidiary Aleris International, Inc. The sources, who spoke to the media on condition of anonymity, say that the firm is assigning an enterprise value of US$2.5 billion to the Cleveland, Ohio subsidiary. According to […]
Zhongwang USA and Aleris Extend Merger Deadline Despite DOJ Action Against Alleged Zhongwang Affiliate Perfectus Aluminum
Zhongwang USA and Aleris Corp agreed on Friday to extend the deadline to cement the sale of the latter to the former by another two weeks. The previous deadline, which itself was the product of an extension, was Friday. “We remain in discussions with Zhongwang USA on the pending acquisition of Aleris,” explained Jason Saragian […]
Zhongwang Acquires German Alumnium Extrusion Firm ALUnna
The world’s second largest aluminium extrusion firm China Zhongwang Holdings Ltd announced yesterday that it now holds a controlling interest in German aluminium extrusion firm Aluminiumwerk Unna AG (ALUnna). Although no price for the purchase was given, the deal gives wholly owned German subsidiary Zhongwang Aluminium Deutschland GmbH a 99.72-percent equity interest in ALUnna. According […]
Zhongwang Deal Extended to Mid-September: Aleris Spokesperson
Aluminium extrusion giant China Zhongwang continues to have its sights set on Cleveland’s Aleris Corporation according to a spokesperson from the latter. According to an article published Friday, the merger agreement between Aleris and Zhongwang subsidiary Zhongwang USA has been extended to the middle of this month. The agreement, which was first announced at the […]
Improved Aluminium Market Raises Aleris’ Q2 Numbers
Cleveland’s rolled aluminium firm Aleris Corporation reported results for the second quarter of 2017 yesterday. Though still reporting a net loss, the numbers were better year on year thanks in part to an overall improvement in the global aluminium market. Aleris shipped 220 thousand metric tons of finished product in the quarter, one thousand metric […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
