Tata's Corus agrees to sell two European aluminium smelters

LONDON: Indian-owned steel group Corus said on Wednesday that it has agreed to sell two European aluminium smelters to London-based private-equity firm Klesch & Company for an undisclosed amount.

The two smelters are in Delfzijl, the Netherlands, and Voerde, Germany, and have a combined production capacity of more than 200,000 metric tonnes of primary aluminum a year.

Anglo-Dutch group Corus, which was bought last year by India's Tata Steel for 13.7 billion dollars, faces falling demand in Europe amid a sharp global economic downturn and has already slashed output.