Paris, France — Alcan Inc. (NYSE, TSX: AL) announced today that it has sold Alcan Print Finishers Ltd., the U.K. decorative print finishing company, to Celloglas Holdings Limited. Terms of the transaction were not disclosed.
"Our packaging business is moving strategically to focus greater resources on the markets where we already enjoy substantial scale and leadership positions and where we believe the most attractive growth opportunities lie," said Christel Bories, President and Chief Executive Officer, Alcan Packaging. "This transaction will enable Alcan Print Finishers Ltd. to benefit from a new owner’s perspective, which will enhance its future development," she added.
Alcan Print Finishers Ltd. provides decorative print finishing services to the printing industry and employs 406 people throughout the U.K. The company recorded 2004 revenues of ₤30 million.
Alcan is a multinational, market-driven company and a global leader in aluminium and packaging. With world-class operations in primary aluminium, fabricated aluminium as well as flexible and specialty packaging, aerospace applications, bauxite mining and alumina processing, today’s Alcan is well positioned to meet and exceed its customers' needs for innovative solutions and service. Alcan employs almost 70,000 people and has operating facilities in 55 countries and regions.
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