Rio Tinto Alcan announces that it has signed an Asset Sale Agreement (ASA) with France-based Axens regarding sale of its activated aluminas business in Brockville, Ontario, Canada.
"The decision to sell our Brockville business stems from a strategic review of our North American specialty aluminas business, said Frédéric Ramé, General Manager of Rio Tinto Alcan Specialty Aluminas. "Brockville has been very successful over the years and we are confident that this will continue as it benefits from new growth opportunities under Axens."
The terms of the ASA are confidential. The transaction is expected to close by end-September 2010.
Axens, which is a fully owned subsidiary of IFP New Energy, is an international provider of advanced technologies, catalysts, adsorbents and services, with a global reputation for basic engineering design excellence. The main scope of Axens' business is focused on the conversion of oil, coal, natural gas and biomass to clean fuels as well as production and purification of major petrochemical intermediates.
The Brockville activated aluminas business employs 52 people.