Rio Algom selling steel operations

The operations involved in the transaction are Atlas Stainless Steels at Tracy, Que., Atlas Specialty Steels at Welland, Ont., and AL Tech Specialty Steel Corp. at Dunkirk and Watervliet, N.Y.

Rio’s purpose in selling the above assets is to allow it to concentrate on its mining interests, the company says. The Sammi Group has extensive holdings in the stainless and specialty steel industry, as well as associated interests in a number of other industrial activities.

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