Australian steelmaker BlueScope Steel has announced that it has completed the sale of Metl-Span, its North American steel insulated metal panels business, to US-based NCI Group, Inc (NCI).
BlueScope will use the estimated net proceeds of US$118 million from the transaction to pay down existing debt facilities.
In May, BlueScope stated that BlueScope's North American subsidiary Steelscape will continue to supply products to Metl-Span and Metl-Span will continue to supply products to BlueScope Buildings North America.