Tuesday, October 18, 2011

Rio Tinto Sell Off- What news for carriers

What is the effect on contracts of carriage when Pacific Aluminium overtakes
the international distribution contracts of Rip Tinto.

Rio plans to sell six units in Australia and New Zealand and seven plants
in France, Germany, the United States and the United Kingdom at an
unspecified "appropriate point in the future", the company said in a
statement. The term the assets are "no longer aligned" with company
strategy, must be quite a revelation to the plants themselves.

The Australian and New Zealand assets in question will be transferred to a
new division to be called Pacific Aluminium before being sold.

The Boyne aluminium smelters in Gladstone in central Queensland and the Bell
Bay smelter in northern Tasmania and The Smelter at Bluff are among the
facilities to be offloaded.

Vivek Rao

VARENCO PTY LTD

www.varenco.com

Mob: +61-437-597-579

Tel: +61-2-9882-6947

Fax: +61-2-8079-6889

ABN 99 127 152 363

19 Willis Road Castle Cove NSW 2069 Australia

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