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.