Xstrata to Acquire Zinc Smelter from Metaleurop

Metaleurop SA have announced the sale of their subsidiary Metaleurop Zinc Holding GmbH to Asturiana de Zinc SA, a subsidiary of Xstrata. The sale price of the business is US$100 million.

The deal which involves the Nordenham Zinc smelter is due to be completed in early January 2003. The sale will allow Metaleurop to eliminate all of its short term bank debt.

Furthermore, the sale of the zinc smelter is consistent with Metaleurop’s recycling strategy, concentrating on recycling, in their core areas of non-ferrous materials including: lead; zinc; EAF dust; zinc oxides and zinc dust.

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