Rio sells specialty aluminum unit to Schweiter
SYDNEY |
SYDNEY (Reuters) - Global miner Rio Tinto (RIO.AX) (RIO.L) is selling its Alcan Composites business, which makes aluminum construction material used in wind farms, to Swiss machinery firm Schweiter Technologies (SWTQ.S) for $349 million.
The two firms said in separate announcements on Tuesday that they expected to complete the deal by the end of the year.
(Reporting by Mark Bendeich; Editing by Michael Urquhart)
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