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 Scholer after a 2016 merger. The malpractice claim ...
Posted: January 9, 2018, 4:00 pm

Renco Group Mining News

La Oroya polymetallic smelter had been operated by Doe Run Peru, a unit of the U.S.-based Renco Group, from 1997 until the company went bankrupt in 2009 and its assets were transferred to a group of former creditors.
Posted: May 4, 2018, 5:38 am

Billionaire Rennert files malpractice lawsuit over $213 million judgment

Renco Group Inc, Rennert's holding company, said neither it nor the mining mogul would have been liable had Kaye Scholer and partner Peter Haveles objected to faulty jury instructions that Rennert has said led to an "irrational" February 2015 verdict.
Posted: January 9, 2018, 3:55 pm
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