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10. October 2007

Corus to sell German, Dutch aluminium plants

Source : Reuters

BERLIN, Oct 9  - India's TATA STEEL owing  Anglo-Dutch steelmaker Corus, will put its primary aluminium smelters in Germany and the Netherlands up for sale because electricity contracts have been agreed for the plants, Corus CEO Philippe Varin said .

Electricity supply contracts were currently underway for the plants in both countries, Varin said.

"When these contracts are in place our goal is to find a strategic future for this business, the primary aluminium production, in an environment which is more supportive of the aluminium business outside of Corus," he said on the sidelines of the IISI gobal steel industry conference in Berlin.

Asked if that meant they would be put up for sale, he said: "yes."

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