5th Jul 2010 07:00
Rio Tinto completes Alcan Packaging divestment with closing of Alcan Beauty Packaging and Medical Flexibles transactions
5 July 2010
Rio Tinto has finished the divestment of its Alcan Packaging business with the completion of sales of its two outstanding assets. Medical Flexibles has been acquired by Amcor for US$66 million and Alcan Beauty Packaging has been acquired by Sun European Partners LLP for an undisclosed sum.
The Medical Flexibles transaction, which comprises four North American plants, recently received US Department of Justice approval. It completes Amcor's acquisition of the Alcan Packaging global Pharmaceuticals, global Tobacco, Food Europe and Food Asia divisions. The rest of the transaction was completed in February 2010 for a total consideration of US$1.948 billion.
The Beauty division employs approximately 8,000 people and operates 26 plants in 12 countries.
Separately, the Alcan Packaging Food Americas division was acquired by Bemis Company, Inc in March 2010 for a total all cash consideration of US$1.2 billion.
Rio Tinto has completed divestments in excess of $10 billion since the beginning of 2008. In 2010, the Group has completed divestments of US$3.6 billion comprising Alcan Packaging Food Americas, Alcan Packaging global Pharmaceuticals, global Tobacco, Food Europe and Food Asia divisions, Vickery (Coal & Allied), Maules Creek (Coal & Allied), Alcan Beauty Packaging and Alcan Medical Flexibles.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
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Media Relations, London Faeth Birch / Conor McClafferty / Clare Hunt Office: +44 (0) 20 7781 1138 Mobile: +44 (0) 7920 041 003 Christina Mills Office: +44 (0) 20 7781 1154 Mobile: +44 (0) 7825 275 605
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Media Relations, Australia David Luff Office: +61 (0) 3 9283 3620 Mobile: +61 (0) 0419 850 205
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Investor Relations, London Mark Shannon Office: +44 (0) 20 7781 1178 Mobile: +44 (0) 7917 576597 David Ovington Office: +44 (0) 20 7781 2051 Mobile: +44 (0) 7920 010 978 Investor Relations, North America Jason Combes Office: +1 (0) 801 204 2919 Mobile: +1 (0) 801 558 2645
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Website: www.riotinto.com
Email: [email protected] / [email protected]
High resolution photographs and media pack available at: http://www.riotinto.com/media
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