Zhongwang USA LLC

Investments, Start-Up Costs Led to Brutal Q1 for Aleris

Investments, Start-Up Costs Led to Brutal Q1 for Aleris

Cleveland’s rolled aluminium firm Aleris Corporation released first-quarter numbers yesterday. Though most figures remained steady compared to last year’s first quarter, start-up costs and losses on investments took its toll on the firm’s net profits in the quarter. The firm shipped 199...

Events

Experts See Increasing In-Roads in Western Aluminium Industry by Chinese Firms

Industry analysts see an expansion of aluminium firms from the People’s Republic of China into the worldwide automotive and aerospace markets. Such a move may set off a frenzied buying spree of Western metals companies by Chinese firms, they predict. According to experts, Chinese firms are moving into the more lucrative areas of the aluminium […]

Production at Zhongwang Plant in Tianjin Expected by End of 2016

Extruded aluminum giant China Zhongwang Holdings Ltd said last week that it expected the first production line at its Tianjin plant to come online by the end of the year. The firm anticipates that the new production line will help it tap into the ever-expanding automotive aluminium market. According to reports, the project will cost […]

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 […]