Montreal, Canada — As part of the restructuring program announced on October 17th 2001, Alcan Inc. today announced the proposed details that affect the Company's rolled products businesses in the United Kingdom and Italy as well as its aluminum foil activities in the U.K. and Switzerland.
Travis Engen, president and chief executive officer of Alcan Inc., said, "The changes we are announcing today in Europe are part of the overall re-alignment of our businesses to increase Alcan's ability to deliver competitive products to our customers and to ensure the viability of our businesses."
These proposed changes will affect all 200 employees at the Company's Glasgow site; up to 310 out of a total 600 at its Rogerstone plant in Newport, South Wales facilities; and 95 out of 550 at Kreuzlingen, Switzerland. With regards to the Company's Italian rolled products operations, Alcan will exit from non-core products at its Pieve plant in Milan. There are currently 200 employed in these product streams.
The aim of the restructuring program is twofold: to make the businesses more competitive in the face of the current economic difficulties; and to put them in the best position to meet future industry needs. These measures are largely due to increased competitive pressures and market outlook.
The Company has today started consultations with the trade unions and other employee representatives.
Alcan is a multinational, market-driven company and a global leader in aluminum and specialty packaging with revenues of approximately US$13 billion in 2000. 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 52,000 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.
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