Montreal, Canada — Alcan announced today that it has successfully concluded the consultation process with employees and union representatives. An agreement has been reached to cease operations at the Burntisland (U.K.) facility on November 30, 2002.
In January 2002, Alcan announced its withdrawal from the speciality chemicals market in Europe. A significant effort to sell the business followed. As a sale transaction could not be successfully structured, Alcan announced its proposal to close the plant on September 5, 2002, and began the consultation process on September 11, 2002.
Based on the current estimate for total closure costs, Alcan expects to record a non-operating charge (after-tax) of approximately US$0.10 per share during the fourth quarter of 2002.
Alcan is a multinational, market-driven company and a global leader in aluminium and speciality packaging with 2001 revenues of US$12.6 billion. With world-class operations in primary aluminium, fabricated aluminium as well as flexible and speciality packaging, Alcan is well positioned to meet and exceed its customers' needs for innovative solutions and service. Alcan employs 48,000 people and has operating facilities in 38 countries.
Statements made in this press release which describe the Company's intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and that the Company's results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Form 10-Q for a summary of major risk factors.
-30-
Media Contact
Joan Chesney
+ 44 (0) 1895 213272
Elisabeth Vassallucci
(514) 848-8277
Investors Relations Contact
Jo-Ann Longworth
(514) 848-8368
Français
© 2008 Alcan Inc. Legal Disclaimer | Privacy Statement 