Zhongwang Makes A Move To Acquire Aleris For $2.33 Billion

In the largest foray by a Chinese company into the U.S. aluminum market since the financial crisis, Zhongwang USA LLC said this week that it would buy U.S. aluminum company Aleris in a $2.33 billion deal, expected to close in Q1 2017. Zhongwang USA is owned by Liu Zhongtian through his Chinese group Zhongwang International Group Ltd. But he is also the founder of Asia's second-biggest extruder, Hong Kong-listed aluminum products maker China Zhongwang , a firm embroiled in anti-dumping cases in the U.S. Liu has been angling to get a toe in the U.S. market for some time.