Rio Tinto Alcan, Nov. 5 /CNW Telbec/ - Rio Tinto Alcan announced today
that it has sold its share in two aluminium die-casting operations in
Slovenia: wholly-owned Alcan Koper d.o.o., and Alcan Tomos d.o.o., of which
Rio Tinto Alcan owned 67 percent. The Alcan Tomos facility produces aluminium
die-castings for the European automotive industry which are distributed to
customers through the Alcan Koper office. Both operations have been sold to
Slovenia-based Hidria Rotomatika d.o.o. Details of the transaction were not
Alcan Koper d.o.o is a distribution operation that provides aluminium
die-castings for the European automotive industry. All the casting products
distributed from Alcan Koper d.o.o. are produced at the Alcan Tomos d.o.o.
"Over a year ago Alcan began a strategic review of the die-casting
activity. After evaluating all options, it was determined that the size and
potential of this activity is no longer consistent with our Engineered
Products' portfolio of businesses focused on sustainable growth. I am glad
that we were able to secure a future for this activity," said Christel Bories,
President and Chief Executive Officer, Engineered Products, Rio Tinto Alcan.
Hidria is a well-known supplier in the industry and will continue to serve
customers in a very professional manner," she added.
"This decision underlines our commitment to focus our efforts not only on
producing components, but more so on developing innovative lightweight
solutions for fast-growing segments in the automotive and transport industry,"
said Wolfgang Schmitz, President of Rio Tinto Alcan's Engineered and
Automotive Solutions. "Our aluminium product offerings, from crash management
systems and suspension applications to composites modules, effectively support
global customers in striving for CO2 reductions through lower weight
vehicles," he added.
Iztok Seljak, Vice-President of Hidria Corporation stated: "As a part of
its focused strategy, Hidria is becoming a European leader in automotive
components for steering and powertrain, among which, sophisticated
high-pressure die-casted and machined aluminium parts are playing an important
role. This acquisition is consistent with our strategy and provides additional
precious human, technological and other resources for further strengthening
our leading position."
Rio Tinto Alcan Casting employs approximately 170 people and had 2006
revenues of US$20 million.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the
UK, combining Rio Tinto plc, a London 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.
%B NM %C 1,4,11,20 %D Die Casting Slovenia
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