Aluminium AG has submitted a binding offer to purchase two
production plants from Rio Tinto Alcan Inc. in France, the
German aluminum company said July 15.
The purchase price for
the two aluminum facilities, located in Saint-Jean-de-Maurienne
and Castelsarrasin, was not disclosed. The acquisitions will
expand Trimets portfolio of specialized light metal
products and secure the long-term supply of aluminum oxide and
remains subject to approval by regulatory authorities, as well
as the implementation of an energy supply agreement and
partnership with Electricité de France SA (EDF).
Rio Tinto announced
plans to dispose of the sites last year (
amm.com, Dec. 12).
The facilities employ
more than 500 people and manufacture aluminum wire rod, which
is used to make such products as electric cabling for the
energy industry and connecting elements for the automotive
"The sites fit in
perfectly with Trimets strategic orientation. This
applies to the qualified staff as much as to technical
standards and the superior products. The terms of the
transaction also allow us to envisage reliable, long-term
investment plans," Heinz-Peter Schlüter, owner and
chairman of the supervisory board of Essen, Germany-based
Trimet, said in a statement.
EDF will take a
minority stake in the production plants.
A version of this
article was first published in AMM sister publication Metal