Renco Group

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.<ref name="renco">Template:Cite web</ref>

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.<ref>Template:Cite news</ref> In 2007, Renco Group lost ownership of its bankrupt subsidiary WCI Steel to its lenders.<ref>Template:Cite news</ref> Through subsidiary Inteva Products, LLC, Renco Group purchased Delphi's Global Interiors and Closures businesses in March 2008.<ref name="AMN" /> In June 2021, Renco Group purchased Renfro Brands, Renfro Brands is a designer, manufacturer, and marketer of socks and legwear products.<ref>Template:Cite news</ref>

In November 2024, the group acquired Coach USA, which had gone in bankruptcy proceedings.<ref>Template:Cite web</ref>

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.<ref>Template:Cite web</ref> Renco subsidiary, magnesium producer US Magnesium (USM), is accused of polluting the Great Salt Lake in Utah.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Smelting operations by Renco subsidiary Doe Run Company, are responsible for elevated levels of lead, arsenic, and cadmium in Herculaneum, Missouri,<ref name="nyt">Template:Cite news</ref> and elevated levels of lead, copper, zinc, and sulfur dioxide in La Oroya, Peru.<ref name="guar">Template:Cite web</ref> In 2007, La Oroya was listed by Blacksmith Institute as one of the "World's Worst Polluted Places".<ref name=blacksmith>Template:Cite web</ref>

External links

• Template:Official website