Rio Tinto Alcan receives binding offer for its St. Jean-de-Maurienne aluminium smelter and Castelsarrasin casting facility in France
MONTREAL, July 13, 2013 /CNW Telbec/ - Rio Tinto Alcan has received a binding offer for its St. Jean-de-Maurienne aluminium smelter and Castelsarrasin casting facility in France from the German aluminium producer, TRIMET. Rio Tinto Alcan will respond to this offer following consultation with the relevant works councils. The terms of this binding offer are confidential and are conditional upon the appropriate regulatory approvals and completion of an energy and partnership arrangement with EDF (Électricité de France) followed by a partnership agreement with the BPI (Banque Publique d'Investissement).
"This is an important step towards the contemplated divestment of the St. Jean-de-Maurienne and Castelsarrasin assets. It was made possible through constructive dialogue with both TRIMET and the French Government, particularly the Ministry of Industrial Renewal," said Jacynthe Côté, chief executive of Rio Tinto Alcan. "The sale of these facilities underscores our strategy to streamline Rio Tinto Alcan, through the divestment of non-core assets, so that it is focussed only on our lowest cost businesses."
In 2012 the St. Jean-de-Maurienne aluminium smelter produced 93,000 tonnes of primary metal. It employs 480 people.
The Castelsarrasin facility is a casting centre that produces aluminium wire for mechanical and welding applications. It employs 35 people and annually produces around 8,000 tonnes of finished product.
TRIMET Aluminium SE is Germany's largest aluminium producer. Founded in 1985, TRIMET employs about 1,900 people that produce, cast, market and recycle aluminium in 12 sites with an international marketing network.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
SOURCE RIO TINTO ALCAN - EN