Rio Tinto (RIO) has agreed to sell two money-losing French aluminum facilities to German group...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Rio Tinto (RIO) has agreed to sell two money-losing French aluminum facilities to German group Trimet and Electricite de France (ECIFF.PK), which are acquiring 65% and 35% respectively. The sale is part of Rio's strategy of divesting non-core and/or unprofitable assets. The deal is a boost to France's attempts to keep major facilities open and save jobs, with the new owners intending to invest €200M to modernize the installations.