Rio Tinto divests 56% of Alcan cable division

Rio Tinto has taken the first step in divesting its downstream Alcan Engineered Products business by agreeing to the sale of 56% of its cable division to platinum equity. Rio Tinto Alcan will remain a key supplier of aluminium rod and molten aluminium to the cable division's plants in North America. The cable division is a high-quality manufacturer of aluminium energy cable products with more than 100 years of participation in the North American market. Today, the business has seven production sites in the United States, Canada and most recently China, serving the utility transmission and distribution markets, as well the residential and nonresidential construction markets.Nike Sneakers