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Oil & Gas

BP Sells Aluminum Unit to Japanese Consortium

April 04, 2011
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BP announced it is selling its Arco Aluminum subsidiary to a Japanese consortium for $680 million, reports the Associated Press. The company is selling Arco, a supplier of rolled aluminum sheet used mainly in the production of drink cans, as part of its drive to dispose of $30 billion in non-core assets by the end of this year. The Arco business, based in Louisville, Kentucky, is being sold to a consortium led by Sumitomo Light Metal Industries, Furukawa Sky Aluminum Corp. and Sumitomo Corp.

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