Corus Selling Aluminum Business

Corus announced its intent to sell its aluminum business three years ago. The sale includes the sale of Corus’ downstream aluminum rolled products and extrusions businesses.

Additionally, Corus’ equity stakes in its Canadiana nd Chinese joint ventures are included in the deal. Corus’ smelting operations, however, will remain a part of the steel company, and these operations will supply Aleris under a long-term agreement.

Philippe Varin, chief executive of Corus said,  “The proposed sale of the downstream aluminum operations to Aleris secures a strong future for these businesses, represents good value for Corus and is an important step in the Group’s strategy.”