Corus in talks to sell two aluminium smelters

Anglo-Dutch steelmaker Corus said on Wednesday that it entered into exclusive negotiations with Klesch & Company to sell its two aluminium smelters in the Netherlands and Germany. "Corus has started discussions with Klesch & Company Limited, which has been granted a period of exclusivity for due diligence to be carried out," Europe's second largest steelmaker said in a statement. The company, owned by India's Tata Steel (TISC.BO: Quote, Profile, Research, Stock Buzz) said in December last year that it had signed a non-binding letter of intent to sell the two smelters to U.S. company American Industrial Acquisition Corporation (AIAC). "Following further discussions with AIAC, a decision has been taken not to proceed any further," it said. The smelters in Delfzijl in the Netherlands and Voerde in Germany have combined capacity to produce around 250,000 tonnes of primary aluminium annually. --Thomson Reuters