05 July 2010
Rio Tinto completes Alcan Packaging divestment with closing of Alcan Beauty Packaging and Medical Flexibles transactions
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.
For further information, please contact:
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
Media Relations, Australia
David Luff
Office: +61 (0) 3 9283 3620
Mobile: +61 (0) 0419 850 205
Media Relations, Americas
Tony Shaffer
Office: +1 202 393 0266
Mobile: +1 202 256 3667
Media Relations, Canada
Bryan Tucker
Office: +1 (0) 514 848 8151
Mobile: +1 (0) 514 825 8319
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
Investor Relations, Australia
Dave Skinner
Office: +61 (0) 3 9283 3628
Mobile: +61 (0) 408 335 309
Simon Ellinor
Office: +61 (0) 7 3361 4365
Mobile: +61 (0) 439 102 811
Website: www.riotinto.com
Email: media.enquiries@riotinto.com / enquiries.mediaaustralia@riotinto.com
High resolution photographs and media pack available at: http://www.riotinto.com/media
