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Boliden selling Norwegian aluminum fluoride ops to Italian firm for €12.5M

Boliden AB has agreed to sell its Noralf aluminum fluoride operations at the Odda zinc smelter in Norway to Italian firm Fluorsid SpA for €12.5 million.

The sale will also yield a capital gain of about 60 million Swedish kronor, the company noted in an Oct. 6 release.

The divestment is in line with Boliden's strategy of increasing its focus on core zinc operations at Odda and expanding zinc output to 200,000 tonnes per annum from the second quarter of 2017, said Kerstin Konradsson, president of Boliden Smelters.

The transaction is scheduled to close during the fourth quarter.

Additionally, the company inked a long-term agreement with Fluorsid for the sale of Odda's sulfuric acid production.

As of Oct.5, US$1 was equivalent to 8.60 Swedish krona.