Renco Group Net Worth is5.75e $Billion
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Type: Private
Foundation: 1986
Location City: One Rockefeller Center,, New York, NY
Location Country: USA
Key People: Chair, CEO: Ira Rennert, VP Finance: Roger L. Fay
Industry: Manufacturing
Products: steel, Hummer,
Owner: Ira Rennert
Subsid: AM General LLC, first
Renco Group is a New York City-based holding company controlled by Ira Rennert that invests in other companies across a range of industries.
On August 20, 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. In 2007, Renco Group lost ownership of its bankrupt subsidiary, WCI Steel to its lenders. Through subsidiary, Inteva Products, LLC, Renco Group purchased Delphi's Global Interiors and Closures businesses in March 2008.
The Renco Group also 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.
One Renco subsidiary, magnesium producer US Magnesium, is accused of polluting the Great Salt Lake in Utah.
Smelting operations by another 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".

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Renco Group Latest News

Merged Firm Faces $214M Malpractice Suit Over Kaye Scholer Work

Rennert’s investment company, The Renco Group Inc., filed suit on Tuesday in New York state court, alleging malpractice against his former lawyers from Kaye Scholer, now part of Arnold & Porter Kaye ...
Posted: January 9, 2018, 4:00 pm

Chancery Court Denies Cross-Motions for Partial Summary Judgment Due to Ambiguities in Contract Language of LLC Agreement Governing Joint Venture

In AM General Holdings LLC v. The Renco Group, Inc., C.A. No. 7639-VCS and The Renco Group, Inc. v. MacAndrews AMG Holdings LLC, C.A. No. 7668-VCS (Del. Ch. May 17, 2017), the Delaware Court of ...
Posted: June 27, 2017, 4:12 pm

REPORT: AM General Hits The Selling Block

The deal, Reuters' sources suggest, could exceed $2 billion. The company is owned by a group of private equity firms that Reuters says includes MacAndrews & Forbes Inc and The Renco Group Inc. ...
Posted: October 2, 2018, 11:04 am
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