AMAX Inc. has entered into an agreement to sell its magnesium business operated through Amax Magnesium Corporation, Salt Lake City, to a private company. The transaction is expected to be completed in May.

The company said the sale is in keeping with AMAX's strategy of concentrating its activities in its principal businesses. AMAX expects the proceeds from the sale will exceed the company's current investment in Amax Magnesium.AMAX Inc. is a worldwide supplier of metals and energy whose principal businesses are aluminum, coal and gold.