BHP Billiton, Alcoa sell Integris Metals for 660 million dollars

LONDON (AFP) - Anglo-Australian mining giant BHP Billiton and Alcoa, the world's largest aluminium producer, have agreed to sell their metal services joint venture Integris Metals for 660 million dollars (517 million euros) including debt, a joint statement said.
Each producer has agreed to sell its 50-percent stake in Integris to US metals distributor Ryerson Tull for 410 million dollars cash plus debt of 250 million as of October 1.
The sale was expected to be completed early next year, they said.
Integris Metals, a metals service centre company engaged in the processing and distribution of metals, was formed in November 2001 through the combination of Reynolds Aluminum Supply Company and North America Metals Distribution, the metals distribution businesses of Alcoa and BHP Billiton.

10/27/2004 - 11:11 GMT - AFP