Alcan to create world-leading rolled products company
Alcan Inc. has announced its intention to create the world's largest aluminium rolled products company. It plans to pursue a spin-off to its shareholders of the rolled products business held by Alcan prior to its acquisition of Pechiney.
Alcan Inc. has announced its intention to create the world's largest aluminium rolled products company. It plans to pursue a spin-off to its shareholders of the rolled products business held by Alcan prior to its acquisition of Pechiney. The used beverage can recycling plant at Warrington and Alcan Aluminium Can Recycling (AACR) will be included in the new company.
The new company, to be named later, will be the world's largest aluminium rolling business by revenue and production volume. It will enjoy market leadership positions in the Americas, Europe and Asia. It will be a leader in the beverage can, automotive sheet, foil-stock, lithographic sheet, painted sheet and industrial products markets covering a wide range of consumer and industrial applications. It will have 10,000 employees, in 37 facilities located in 11 countries. The transaction, which requires approval by Alcan shareholders, is expected to be completed by the end of 2004.
As the major supplier of recycled ingot for the can sheet industry, the UBC recycling plant at Warrington will play a key role in the new company?s European operations, as will AACR's work to develop the collection infrastructure for aluminium packaging recycling in the UK.
Commenting on the changes AACR National Manager Rick Hindley said: 'The next few months are going to be an exciting and challenging time as we adapt to our new corporate structure, but essentially our objectives and the way we do business will not change. Our priority remains to grow the volume of aluminium beverage cans collected for recycling in the UK.
'As we see it at the moment only the company name is going to change. Obviously we will keep our suppliers informed and updated as the reorganisation progresses, but for now it is very much business as usual for AACR.'
