Zhongwang USA, a Chinese-owned aluminum company, announced that its merger agreement with Aleris Corporation has been terminated per a mutual agreement. The companies entered into the $2.33 billion merger agreement in August 2016. The merger was subject to approval from the Committee on Foreign Investment in the United States (CFIUS). In July 2017, CFIUS raised […]

The U.S. Department of Justice (DOJ) filed a complaint against a California company, alleging that it avoided paying $1.5 billion in tariffs by passing off illegally imported aluminum extrusions as finished products. The complaint, filed September 14, alleges that Zhongtian Liu, the founder and chairperson of China Zhongwang Holdings Lmt., is effectively the owner of […]

The Department of Commerce (DOC) issued its final determination in the 5050 aluminum alloy circumvention case against Zhongwang and other exporters. The DOC has upheld its preliminary determination that heat-treated 5050-grade aluminum alloy—regardless of producer, exporter or importer—is covered by the antidumping duty and countervailing duty orders on aluminum extrusions from China. (Read the ruling […]

The Department of Commerce (DOC) says Chinese aluminum giant China Zhongwang intentionally skirted U.S. trade duties in recent years, according to a preliminary determination issued last week. Commerce determined Zhongwang, which is at the center of an investigation regarding tariff circumvention, used heat-treated 5050 alloy aluminum extrusions to avoid duties put in place in 2010. […]

Earlier this year, the Aluminum Extruders Council (AEC) made its case to the United States government on allegations of transshipment by Chinese aluminum extruder Zhongwang Holdings Ltd. Now, the organization is homing in on alleged circumvention by the company. Last week, the AEC filed a petition with the Department of Commerce accusing Zhongwang of evading […]

One of the world’s largest aluminum extruders is on the defense after a recent report accused it of committing “the largest and most complex China fraud ever uncovered.” In a scathing 51-page report released last week, short seller Dupre Analytics alleges China Zhongwang Holdings Ltd. chairman Liu Zhongtian and his family have constructed a “network […]