Bluescope sells US aluminium operation

Bluescope Steel Ltd has sold its North American aluminium products business, Vistawall Group, for $US190 million ($A225.0 million).

Bluescope told the Australian stock exchange this morning that it had sold Vistawall to an affiliate of Oldcastle Glass, a US subsidiary of CRH plc, a UK-based international building materials company.

The sale closes on June 29.

Bluescope has owned Vistawall since April 2004, when it acquired Butler Manufacturing Co for $US206 million. Butler included Butler Buildings (North American and China) and Vistawall Group (North America and China).

Bluescope will continue to own and operate Bulter Buildings and Vistawall China.

BlueScope Steel ceo, Kirby Adams, said the sale of Vistawall North America would "realise the outstanding value created in this non-steel business".

BlueScope Steel would continue to focus on growing its core North American business through Butler Buildings, which had performed strongly since its acquisition, as well as Bluescope's 50:50 steel mini-mill joint venture in Delta, Ohio.

Mr Kirby said BlueScope's ability to turn Butler Manufacturing around from a loss-maker into an industry leader by reducing costs and restoring profitability, demonstrated the company's commitment to investing in smart, innovative downstream businesses.

BlueScope Steel is committed to its North American strategy and to growing its core steel businesses in the region, he said.