Steelworkers Union Doubles Down On Aleris Deal Opposition
By Matthew Guarnaccia (May 9, 2017, 3:27 PM EDT) -- United Steelworkers on Monday again asked the Committee on Foreign Investment in the United States to block a Chinese investor's $2.3 billion bid to acquire aluminum manufacturer Aleris Corp., saying a recent withdrawal and refiling of the deal did nothing to cure its defects.
In a letter to Treasury Secretary Steven Mnuchin, United Steelworkers international president Leo W. Gerard said the sale of Cleveland-based Aleris to Zhongwang International Group subsidiary Zhongwang USA LLC comes when the aluminum sector in the U.S. is at a serious risk for harm by "unfair, illegal, predatory and protectionist practices."
In September, Gerard sent an initial letter to...
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