Steel-maker Corus has signed a letter of intent for the sale of its aluminium smelters at Delfzijl in the Netherlands and Woerde in Germany to the US investor American Industrial Acquisition Corporation for an undisclosed sum.
The deal is expected to be completed by March, reports ANP news service.
Some 475 people work in the Dutch unit and 480 in Germany. There are no plans to move production or to axe jobs, a Corus spokesman told ANP.
The two smelters are all that are left of the company’s aluminium division. The rest was sold to the US firm Aleris for € 728m last year.
Corus was taken over by India’s Tata Steel for around €9bn earlier this year.
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