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Article: Rio Tinto Sells Minenco to Bechtel.
- Article from:
- Business Wire
- Article date:
- July 10, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON--(BUSINESS WIRE)--July 10, 1997--Rio Tinto plc (NYSE:RTP) today annouced that it is to sell as a going concern its Australian engineering subsidiary, Minenco, to the global engineering group, Bechtel Corporation.
The transaction, which represents less than one per cent of Rio Tinto's net assets, is to be subject to a number of conditions including Government approvals.
Mr. Oscar Groeneveld, Head of Technology, Rio Tinto, said he was delighted that Bechtel was in the position to build on the alliance which already existed with Minenco through a series of project joint ventures. He said that Minenco had played a valued role for the group ...