Tyre Major Supplier US Zinc Sold
Aluminium and alloy products manufacturer Aleris International has agreed to sell its zinc business, which operates under the name US Zinc, to affiliates of Brazil’s Votorantim Metais Ltda. for US$295 million, with certain adjustments for working capital and other items. Closure of the transaction is subject to regulatory approvals and customary closing conditions.
US Zinc is a supplier to a number of companies within the tyre industry, including tyre majors Goodyear, Bridgestone and Michelin. Amongst other items the company produces value-added zinc products, including zinc oxide, which is utilised in the vulcanisation of rubber products. US Zinc operates six zinc facilities in the United States and a newly built zinc oxide facility in China, located outside of Shanghai.