Rio Tinto completes sale of A

RNS Number : 3624D
Rio Tinto PLC
01 December 2009
 



Rio Tinto completes sale of Alcan Composites 


1 December 2009


Further to the announcement of 22 September, Rio Tinto has completed the sale of Alcan Composites, part of the Alcan Engineered Products division, to Schweiter Technologies for a total consideration of US$349 million.


Since February 2008, Rio Tinto has announced asset sales of US$8.3 billion.  In addition, Rio Tinto received a binding offer from Amcor in August 2009 for US$2.025 billion for Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia divisions. 


During 2008, Rio Tinto completed divestments totalling US$3.1 billion. During 2009, Rio Tinto has agreed asset sales of US$5.2 billion. As well as Alcan Composites, these transactions include Ningxia (aluminium), Potasio Rio Colorado (potash), Corumbá (iron ore), Jacobs Ranch (coal), Alcan Packaging Food Americas, Maules Creek (Coal & Allied) and the Cloud Peak IPO (coal).


In an unrelated transaction, the proposed sale of 56 per cent of the Alcan Engineered Products Cable division for an undisclosed sum to Platinum Equity, announced on 14 September, will not be completed as the sale has been terminated in accordance with the terms of the sale and purchase agreement.


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, 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.


  For further information, please contact:

Media Relations, London 

Nick Cobban

Office: +44 (0) 20 7781 1138

Mobile: +44 (0) 7920 041 003

Christina Mills

Office:  +44 (0) 20 7781 1154

Mobile: +44 (0) 7825 275 605


Media Relations, Australia 

David Luff
Office:
  +61 (0) 3 9283 3620
Mobile: +61 (0) 0419 850 205

Tony Shaffer

Office: +61 (0) 3 9283 3612
Mobile: +1 202 256 3667

Media Relations, Americas 

Tony Shaffer
Office:
  +61 (0) 3 9283 3612
Mobile: +1 202 256 3667

Media Relations, Canada

Stefano Bertolli

Office:  +1 (0) 514 848 8151

Mobile: +1 (0) 514 945 1800

Investor Relations, London

Mark Shannon

Office: +44 (0) 20 7781 1178 

Mobile: +44 (0) 7917 576597

David Ovington

Office: +44 (0) 20 7781 2051

Mobile: +44 (0) 7920 010 978

Investor Relations, North America

Jason Combes

Office: +1 (0) 801 204 2919

Mobile: +1 (0) 801 558 2645


Investor Relations, Australia

Dave Skinner

Office: +61 (0) 3 9283 3628

Mobile: +61 (0) 408 335 309

Simon Ellinor

Office: +61 (0) 7 3361 4365

Mobile: +61 (0) 439 102 811



Email:  questions@riotinto.com


Website:  www.riotinto.com


High resolution photographs and media pack available at: http://www.riotinto.com/media/press_kit.asp


This information is provided by RNS
The company news service from the London Stock Exchange
 
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