MONTREAL, Aug. 4 /CNW Telbec/ - Rio Tinto Alcan announces that it has signed an Asset Sale Agreement (ASA) with France-based Axens regarding sale of its activated aluminas business in Brockville, Ontario, Canada.
"The decision to sell our Brockville business stems from a strategic review of our North American specialty aluminas business, said Frédéric Ramé, General Manager of Rio Tinto Alcan Specialty Aluminas. "Brockville has been very successful over the years and we are confident that this will continue as it benefits from new growth opportunities under Axens."
The terms of the ASA are confidential. The transaction is expected to close by end-September 2010.
Axens, which is a fully owned subsidiary of IFP New Energy, is an international provider of advanced technologies, catalysts, adsorbents and services, with a global reputation for basic engineering design excellence. The main scope of Axens' business is focused on the conversion of oil, coal, natural gas and biomass to clean fuels as well as production and purification of major petrochemical intermediates.
The Brockville activated aluminas business employs 52 people.
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, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
SOURCE Rio Tinto Alcan
For further information: For further information: Media Relations, Rio Tinto Alcan: Bryan Tucker, Tel.: +1 514 848 8151, Bryan.firstname.lastname@example.org; Website: www.riotintoalcan.com