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The leader of the aluminum market is selling off assets

8 May 2013
The leader of the aluminum market is selling off assets

The leader of the global aluminum market — transnational

Australian-British company Rio Tinto is selling off productive assets.

«The sector of non-ferrous metallurgy, especially aluminium production — today

are experiencing hard pressure, provoked by the excess of metal at warehouses

trading platforms and related depreciation of the resource. This is the situation

most aluminium smelters are catastrophic: they are huge

losses. Difficulties and our company, in connection with which the user

the organization decided to sell a part of capacities of the Corporation»

— reported to journalists by the representatives «Rio Tinto».

In particular, international media reported

information about what owners Rio Tinto has agreed to sell its

plant «Sebree» (USA) the American Corporation «Century Aluminum». Enterprise

capable of producing over 200 thousand tons of primary aluminum per year, will cost

new owner to 61 million dollars. The transaction is expected to be completed by

the end of June this year. Also currently managers «Rio Tinto» are

negotiations with the German company «Trimet Aluminium» on the sale of two of their other aluminum

assets (at this time — located in France), but the cost of these facilities

while not as advertised.

Earlier it was reported that in recent months financial

the position of «Rio Tinto» significantly worsened. Only at the end of February loss

enterprises amounted to 2.99 billion dollars, that management of the Corporation reacted

the adoption of a special program to minimize costs. The number of events

undertaken to stabilize the financial position of the Corporation, a reduction

staff, sales units in diamond mining and disposal of the Pacific

the aluminium division more than 10 specialized assets.

The mining company «Rio Tinto» — one of the

the three largest aluminum producers in the world — was founded in 1873. In

its current composition Corporation has been working since 2007 when it

joined the canadian company «Alcan». In addition to the «winged metal» organization

produces copper, gold, diamonds, coal, uranium, titanium dioxide, iron mines

ore and other resources. The assets of Rio Tinto are located in different corners of the Earth, but

the most widely business Corporation in North America, Australia, Europe,

South America, Asia and Africa.

2 May 2013
20 May 2013