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Renco Group
American holding company
American holding company
| Field | Value | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| name | The Renco Group, Inc. | ||||||||
| logo | Renco group logo.png | ||||||||
| logo_size | 50 | ||||||||
| type | Private | ||||||||
| foundation | |||||||||
| location_city | One Rockefeller Plaza, | ||||||||
| New York, NY | |||||||||
| location_country | USA | ||||||||
| key_people | Chair, CEO: Ira Rennert | ||||||||
| President: Ari Rennert | |||||||||
| VP Finance: Roger L. Fay | |||||||||
| services | Security | ||||||||
| owner | Ira Rennert | ||||||||
| subsid | {{plainlist | ||||||||
| * US Magnesium LLC<ref>{{cite web | url | http://www.rencogroup.net/companies/amgeneral.html | title=Renco Companies AM General | accessdate=2008-05-27 | publisher=Renco Group | date=2008-05-27 | url-status=dead | archive-url=https://web.archive.org/web/20080312084724/http://www.rencogroup.net/companies/amgeneral.html | archive-date=2008-03-12 }} |
| * Inteva Products<ref name | "AMN" | ||||||||
| homepage |
New York, NY President: Ari Rennert VP Finance: Roger L. Fay
- Baron Drawn Steel Corp.
- Doe Run Co.
- Doe Run Peru S.R.L.
- Unarco Material Handling, Inc.
- US Magnesium LLC
- Inteva Products
- AM General (–2020)
- RG Steel Corp. (defunct)
The Renco Group, Inc. is an American New York City-based holding company controlled by Ira Rennert that invests in other companies across a range of industries.
History
In August 2004, it was announced that Ronald Perelman's MacAndrews & Forbes Holdings company would form a joint venture with AM General's current owner, Renco Group, to give Perelman 70% ownership of AM General. The deal reportedly cost close to US$1 billion.{{cite news |first=ANDREW ROSS |last=SORKIN |author2=DANNY HAKIM |title= Perelman Seeks Controlling Stake in Maker of Hummer |url=https://query.nytimes.com/gst/fullpage.html?res=9C07E6DF1E3CF933A2575BC0A9629C8B63
In November 2024, the group acquired Coach USA, which had gone in bankruptcy proceedings.
Pollution
The Renco Group owns various mills and mines in the United States and South America, and pollution problems at some of the company's properties have sparked public outcries, environmental lawsuits, and hundreds of millions of dollars in environmental penalties and fines. Renco subsidiary, magnesium producer US Magnesium (USM), is accused of polluting the Great Salt Lake in Utah.
Smelting operations by Renco subsidiary Doe Run Company, are responsible for elevated levels of lead, arsenic, and cadmium in Herculaneum, Missouri, and elevated levels of lead, copper, zinc, and sulfur dioxide in La Oroya, Peru. In 2007, La Oroya was listed by Blacksmith Institute as one of the "World's Worst Polluted Places".
References
References
- (2008-05-27). "Renco Companies AM General". Renco Group.
- (2008-03-11). "The Renco Group Completes Acquisition of Delphi's Global Interiors and Closures Businesses". [[Babcox]].
- "The Renco Group".
- (2007-10-17). "Renco to buy Delphi Corp. business". Vindy.com.
- "World's Most Renowned Sock Manufacturing Company, Renfro Brands, Acquired by The Renco Group". Renfro Brands.
- (November 5, 2024). "Coach USA sale to The Renco Group finalized; will have no impact on commuters".
- (2007-08-12). "Poisoned city fights to save its children".
- Fahys, Judy. (August 28, 2008). "EPA: U.S.MAGNESIUM WASTES ENDANGER WORKERS, FAMILIES, BIRDS". Healthy Environment Alliance of Utah.
- "EPA proposal to list the US Magnesium site on the National Priorities List, with support from the Utah Department of Environmental Quality".
- NYT, Elizabeth Stanton. (2002-02-28). "National Briefing {{!}} Midwest: Missouri: High Levels Of Lead In Children". The New York Times.
- O'Shaughnessy, Hugh. (2007-08-12). "Poisoned city fights to save its children".
- (Nov 6, 2006). "The Blacksmith Institute".
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