October 16, 2011 / 10:12 PM / 6 years ago

Rio Tinto says to trim aluminium business

MELBOURNE, Oct 17 (Reuters) - Global miner Rio Tinto plans to sell 13 aluminium assets, trimming the business it expanded with the badly timed $39 billion acquisition of Alcan four years ago as it tries to boost the division’s performance, it said on Monday.

It plans to sell assets in Australia and New Zealand and plants in France, Germany, the United States and the United Kingdom.

“The strength of our balance sheet means that we can choose the most opportune method and timing to divest these assets, which may not occur until the economic climate improves,” Rio Tinto Chief Executive Tom Albanese said in a statement. (Reporting by Sonali Paul; editing by Michael Smith)

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