CLEVELAND (AP) — Aleris International Inc. has agreed to sell its zinc business to a Brazil mining and metals company for $295 million.
The deal to sell US Zinc to affiliates of Votorantim Metais Ltda. includes adjustments for working capital and other items that weren't specified in Tuesday's announcement by Aleris, based in suburban Beachwood, Ohio.
US Zinc recycles zinc and operates six facilities in the United States and one near Shanghai, China.
Steven J. Demetriou, Aleris's chairman, said the sale would allow Aleris to focus on its core aluminum business. Aleris has production facilities in 55 locations in North and South America, Europe and Asia.