Ta Chen Acquires Texarkana Rolling Mill
By Metal Center News Staff
on Oct 9, 2018
Ta Chen International Inc., Long Beach, Calif, will acquire Arconic’s Texarkana, Texas, rolling mill. The deal is for $300 million in cash, plus an additional $50 million in contingent consideration.
The transaction is expected to close in the fourth quarter.
“The strong market conditions for industrial products gave us an opportunity to sell an asset that has been idled for several years,” said Tim Myers, president of Arconic’s Global Rolled Products and Transportation and Construction Solutions segments. “This is a positive development for the dedicated workforce at Texarkana, and it helps our business as we continue to explore opportunities to enhance our portfolio.”
Arconic had been employing about 90 people at its Texarkana operation, which produces material primarily for the industrial market.