Zurich, Switzerland — Alcan Inc. (NYSE, TSE : AL) today announced the sale of a number of foil container manufacturing assets in Spain and Germany. The Palco foil container plant, located in Madrid, Spain has been sold to Aliberico SA of Spain and 12 presses for smooth wall containers in Ohle, Germany to Alupak AG of Switzerland.
These transactions are part of the divestment requirements imposed by the European Commission as a condition to its approval of the merger between Alcan and Alusuisse Group Ltd in October 2000. The transactions are subject to approval by the relevant authorities.
Both facilities manufacture high quality aluminum foil containers widely used in the food industry.
Alcan will continue to operate its remaining foil and packaging manufacturing operations at Ohle and at other locations.
Alcan is a multinational, market-driven company and a global leader in aluminium and specialty packaging with annual revenues of approximately US$13 billion. With world-class operations in primary aluminium, fabricated aluminium 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 53,000 people and has operating facilities in 39 countries.
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