BEACHWOOD, Ohio (Nov. 27, 2007) — Aleris International Inc. has agreed to sell its U.S. Zinc business — which produces zinc oxide and zinc dust used in rubber product vulcanization — to Brazil's Votorantim Metais Ltda.
The $295 million deal includes some adjustments for working capital and other items, and is subject to regulatory approval and customary closing conditions, Aleris said.
Aleris, based in Beachwood, said it plans to focus on its core aluminum business. Votorantim is headquartered in Sao Paulo, Brazil, and mines and produces zinc, nickel and steel in Brazil and Peru.
U.S. Zinc recycles zinc metal and operates six plants in the U.S. and a newly built zinc oxide facility in Shanghai, China.