Ta Chen originally invested US$510 million and established a new company, Brighton-Best Investment Corp. (BBIC) in the US to build an aluminum alloy coiling plant to supply Ta Chen's subsidiary, Ta Chen International (TCI).
Ta Chen pointed out that during the process of preparing for the self-built factory, the US aluminum market Arconic intended to sell 100% of the holding company Alumax Mill Products, Inc., all tangible assets totaling US$350 million.
Ta Chen said that the supply gap in the US aluminum market was urgent, and the new factory will be slow to complete, considering that the BBIC project was still under evaluation, they wanted to effectively use the funds, about US$280 million of cash replenishment of the original US$510 million will be invested in TCI, plus Ta Chen International's self-owned funds totaling US$350 million, will for TCI's subsidiary TCI Texarkana to acquire Alumax.
Ta Chen's subsidiary acquires US' Alumax
30 Oct 2018 16:28 reported by Vicky Wang
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