Rio Tinto to sell Alcan Composites business

RIO TINTO will sell Alcan Composites to Swiss-based Schweiter Technologies. Alcan Composites makes materials for the green energy and architectural industries. Rio Tinto will get $401m for the sale. Rio Tinto got Alcan Composites together with Alcan after it took over the aluminium producer. The economy has since tanked, so Rio Tinto is looking to sell off the former Alcan divisions, in order to focus on its core mining and raw materials business.