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Released October 02, 2018 | SUGAR LAND
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A U.S. subsidiary of Taiwan-based Ta Chen International has signed an agreement to acquire Arconic's (NYSE:ARNC) Texarkana, Texas, aluminum rolling mill for $300 million and other considerations. Ta Chen had announced earlier in the year that it was planning to spend $1 billion on acquisitions or organic growth in the U.S., and this appears to be the company's first step in that direction in response to tightening aluminum supply due to Section 232 and 301 trade tariffs.
Ta Chen also has been studying the construction of greenfield rolling mills in Florida, Maryland and Texas, according to Industrial Info Resources Metals & Minerals Business Intelligence Platform.
The Texarkana mill was idled in 2009, but Arconic restarted the casthouse in 2016 and is currently engineering a restart of the finishing area by early 2019. For details contact Industrial Info.
Ta Chen also has been studying the construction of greenfield rolling mills in Florida, Maryland and Texas, according to Industrial Info Resources Metals & Minerals Business Intelligence Platform.
The Texarkana mill was idled in 2009, but Arconic restarted the casthouse in 2016 and is currently engineering a restart of the finishing area by early 2019. For details contact Industrial Info.
