AM General
In 1993, Renco acquired AM General from the LTV Corporation to help LTV emerge from bankruptcy. Terms included a $67.5 million cash payment with the remainder to be paid in various forms over a 10-year period. AM General produced vehicles for industrial, military and government use, including the Humvee. On August 20, 2004, it was announced that Ronald Perelman's MacAndrews &amp; Forbes Holdings company would buy 70% of AM General from Renco. The deal reportedly cost close to US$1 billion.