Cleveland, Ohio — Alcan Inc. (NYSE, TSX: AL) announced today it will shut down production at one of two cold mills at its Fairmont, West Virginia plant, a producer of light gauge aluminum sheet and foil used in the transportation, container and industrial markets.
"Global over-capacity has made light gauge sheet and foil a very competitive market," stated Martha Brooks, President of Alcan Aluminum Corporation. "This decision will better balance our capacity to the market opportunities. Furthermore, it is consistent with Alcan's ongoing efforts to invest our resources in the most attractive products and markets."
Alcan will idle the cold mill by the end of first quarter 2003. Approximately 25% of Fairmont's 210 employees will be affected by this decision.
Alcan is a multinational, market-driven company and a global leader in aluminum and specialty packaging with 2001 revenues of US$12.6 billion. With world-class operations in primary aluminum, fabricated aluminum as well as flexible and specialty 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.
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Patricia Persico
Alcan Aluminum Corporation
(440) 423-6522
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