Global miner Rio Tinto Ltd
(ASX:RIO) has completed the sale of Alcan Composites to Schweiter Technologies for US$349 million.
The asset was part of the Alcan Engineered Products division, and takes total assets sold since February 2009 to US$8.3 billion.
Rio also received a binding offer form Amcor in August 2009 for US$2.025 billion for Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia divisions.
The miner also says the proposed sale of 56% of the Alcan Engineered Products Cable division for an undisclosed sum to Platinum Equity, announced on September 14, will not be completed as the sale has been terminated.
Rio is seeking to pay down its huge debt acquired through its acquisition of Alcan in 2007.
Rio Tinto’s 2008 net profit took a massive tumble from its result the year before.
