Rio Tinto has received a binding offer for its specialty aluminas business from H.I.G. A period of exclusivity has been agreed to with H.I.G. and Rio Tinto will respond to the binding offer following consultation with the relevant European works councils. The terms of the binding offer are confidential.
Guy Elliott, chief financial officer of Rio Tinto said, "The potential sale is in line with our strategy of continuing to streamline our aluminium group through the divestment of non-core assets."
The specialty aluminas business is the largest integrated supplier of non-metallurgical grade aluminas with 4 production sites: Gardanne, La Bathie, Beyrède in France, and Teutschenthal in Germany. It employs 730 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, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
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