Mytilineos, Glencore in $2 bln deal

Shares in Greek metallurgy group Mytilineos jumped more than 2 percent yesterday after news it’s subsidiary had signed a 2 billion dollar deal to supply Switzerland’s Glencore with alumina for the next 10 years. Aluminium SA, a wholly owned subsidiary of Mytilineos, has agreed to supply Glencore, one of the world’s largest suppliers of commodities and raw materials, with alumina, a product used in the production of aluminium. «The value of the agreement is expected to exceed 2 billion dollars with the quantities involved exceeding 5 million tons,» said Mytilineos in a statement. The alumina will be exported to European, African and Asian countries. Shares in Mytilineos, which has a market capitalization of some 921 million euros, ended up 2.60 percent at 7.88 euros, outperforming the Athens bourse’s benchmark general index, which retreated 0.06 percent to 3,394.64 points.