Zhongwang says it’ll bring jobs stability to Aleris, hits back at US opposition to US$2.3 bln takeover
Aleris | November 03, 2016
China Zhongwang Holdings, Asia’s largest producer of extruded aluminium bars and rods, said its proposed US$2.3 billion takeover of Aleris from private-equity funds will bring jobs stability and resources to its investment, and help it expand into the automotive and aerospace industries. Aleris’ high-strength alloys manufacturing technology enabled by advanced modelling techniques, and its design of light armour material with enhanced ballistic performance are critical to long term US economic and national security interests, the letter said.