BlueScope Steel Limited (ASX:BSL) has sold its North America-based metal panels business, Metl-Span, to NCI Group for $US117 million.
The steelmaker says it expects net profit after tax of $US9 million from the divestment, before accounting for unrealised foreign exchange losses of $US20 million.
CEO Paul O'Malley says the sale generates a good financial return for the company and the net proceeds will be used to pay down debt.
Bluescope said earlier this year it is actively seeking potential asset sales that could realise about $100 to $150 million to strengthen its balance sheet.
BlueScope Steel booked a net loss of $524 million in the first of the 2012 financial year.
