Integris sale to Ryerson Tull completed
SteelOrbis reported last week that Ryerson Tull Inc,
North America's leading metal distributor and processor, would complete acquisition of Integris Metals on January 4, 2005.
Australian mining company
BHP Billiton and US aluminum group Alcoa have recently announced that the sale of Integris Metals to Ryerson Tull for $644 million has been completed as scheduled. This amount includes $410 cash payment plus assumption of Integris' debt, which is $234 million.
BHP Billion and Alcoa both held 50% stake in Integris Metals. The two companies decided to sell their stake in Integris Metals as metal
distribution is not the core business of the two companies.