Renco Group
 | |
| Type | Private |
|---|---|
| Founded | 1975 |
| Headquarters | One Rockefeller Plaza, , New York, NY USA |
Key people | Chair, CEO: Ira Rennert President: Ari Rennert VP Finance: Roger L. Fay |
| Services | Security |
| Owner | Ira Rennert |
| Subsidiaries |
|
| Website | rencogroup.net |
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.[3]
History
[edit]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.[4] In 2007, Renco Group lost ownership of its bankrupt subsidiary WCI Steel to its lenders.[5] Through subsidiary Inteva Products, LLC, Renco Group purchased Delphi's Global Interiors and Closures businesses in March 2008.[2] In June 2021, Renco Group purchased Renfro Brands, Renfro Brands is a designer, manufacturer, and marketer of socks and legwear products.[6]
In November 2024, the group acquired Coach USA, which had gone in bankruptcy proceedings.[7]
Pollution
[edit]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.[8] Renco subsidiary, magnesium producer US Magnesium (USM), is accused of polluting the Great Salt Lake in Utah.[9][10]
Smelting operations by Renco subsidiary Doe Run Company, are responsible for elevated levels of lead, arsenic, and cadmium in Herculaneum, Missouri,[11] and elevated levels of lead, copper, zinc, and sulfur dioxide in La Oroya, Peru.[12] In 2007, La Oroya was listed by Blacksmith Institute as one of the "World's Worst Polluted Places".[13]
References
[edit]- ^ "Renco Companies AM General". Renco Group. May 27, 2008. Archived from the original on March 12, 2008. Retrieved May 27, 2008.
- ^ a b "The Renco Group Completes Acquisition of Delphi's Global Interiors and Closures Businesses" (aspx). aftermarketnews.com. Akron, OH: Babcox. March 11, 2008. Retrieved May 27, 2008.
{{cite news}}: CS1 maint: deprecated archival service (link) - ^ "The Renco Group". www.rencogroup.net. Retrieved April 18, 2018.
- ^ SORKIN, ANDREW ROSS; DANNY HAKIM (August 10, 2004). "Perelman Seeks Controlling Stake in Maker of Hummer". New York Times. Retrieved May 27, 2008.
- ^ "Renco to buy Delphi Corp. business". Vindy.com. October 17, 2007. Archived from the original (php) on July 23, 2011. Retrieved May 27, 2008.
- ^ "World's Most Renowned Sock Manufacturing Company, Renfro Brands, Acquired by The Renco Group". Renfro Brands. Archived from the original on December 6, 2024. Retrieved March 8, 2025.
- ^ "Coach USA sale to The Renco Group finalized; will have no impact on commuters". Bus & Motorcoach News. November 5, 2024.
- ^ "Poisoned city fights to save its children". The Guardian. August 12, 2007. Archived from the original on June 8, 2023.
- ^ Fahys, Judy (August 28, 2008). "EPA: U.S.MAGNESIUM WASTES ENDANGER WORKERS, FAMILIES, BIRDS". Healthy Environment Alliance of Utah. Archived from the original on August 17, 2011. Retrieved April 18, 2018.
- ^ "EPA proposal to list the US Magnesium site on the National Priorities List, with support from the Utah Department of Environmental Quality". Archived from the original on May 9, 2010. Retrieved April 30, 2010.
- ^ NYT, Elizabeth Stanton (February 28, 2002). "National Briefing | Midwest: Missouri: High Levels Of Lead In Children". The New York Times. ISSN 0362-4331. Retrieved April 18, 2018.
- ^ O'Shaughnessy, Hugh (August 12, 2007). "Poisoned city fights to save its children". the Guardian. Retrieved April 18, 2018.
- ^ "The Blacksmith Institute". November 6, 2006. Archived from the original on November 6, 2006.
External links
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