PORT ELIZABETH, South Africa, June 11 /CNW Telbec/ - Alcan is pleased to
announce the appointment of Brent Hegger as Chief Executive Officer (CEO) of
COEGA Aluminum smelter project. He will be responsible for completing the
proposed 720kt greenfield COEGA aluminum smelter project, which will have a
total estimated cost of US$2.7 billion, and is expected to be completed by
"Brent Hegger is well equipped to assume his new responsibilities and to
see the COEGA aluminum smelter project through to a successful completion. His
impressive international experience in the aluminum industry is highlighted by
the key role he has played in the construction of several aluminum smelters in
Africa, making him the natural choice," said Yvon D'Anjou, Vice-President
Business Development and Technology, Equipment, Sales and Services, Alcan
Primary Metal Group.
Commenting on his appointment, Mr. Hegger said: "It is a privilege to
have this opportunity to lead such an important project for South Africa. I am
equally proud to be leading this project for Alcan, whose sustainability
values and corporate governance have long been recognized around the world."
For three consecutive years, Alcan has been included on the annual Global
100 Most Sustainable Corporations in the World list, announced each year at
the World Economic Forum in Davos. This year, Alcan was also named the
'World's Most Admired Metals Company' by Fortune magazine.
Mr. Hegger will replace the retiring Hal Spencer, who will continue to
work during the transition that will formally take effect July 1, 2007. Mr.
Hegger has worked on numerous major projects in Canada, Russia, South Africa,
Mozambique, Malaysia, and Chile. He was born in Montreal, Canada and first
worked for Alcan as a process engineer in Arvida, Quebec. Mr. Hegger is
married to a South African and has 3 children.
COEGA Project Status
Alcan is in advanced discussions with potential partners and EPCM firms
to conduct the project's detailed Front End Engineering Design (FEED). Project
financing is expected to account for approximately 60 percent of the total
investment required. Negotiations for the FEED and with potential partners are
progressing as expected.
The greenfield project will use the latest version of Alcan's proprietary
AP35 series smelting technology, with world leading environment, health and
safety performance. GHG emissions generated by AP Technology are amongst the
lowest in the world (based on IAI 2003 Survey results). Already, 6 million
tonnes of global capacity is equipped with AP technology and a further
1 million tonnes of additional capacity is currently under construction.
Subject to successful completion of the project's next steps and
financial arrangements, construction is expected to begin in 2008 and result
in first metal production in 2010.
Alcan Inc. (NYSE, TSX: AL) is a leading global materials company,
delivering high quality products and services worldwide. With world-class
technology and operations in bauxite mining, alumina processing, primary metal
smelting, power generation, aluminium fabrication, engineered solutions as
well as flexible and specialty packaging today's Alcan is well positioned to
meet and exceed its customers' needs. Alcan is represented by 68,000
employees, including its joint ventures, in 61 countries and regions, and
posted revenues of US$23.6 billion in 2006. The Company has featured on the
Dow Jones Sustainability World Index consecutively since 2003. For more
information, please visit: www.alcan.com.
Statements made in this press release which describe the Company or
management's objectives, projections, estimates, 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 actual actions or results could
differ materially from those expressed or implied in such forward-looking
statements or could affect the extent to which a particular projection is
realized. Reference should be made to the Company's most recent Quarterly
Report on Form 10-Q or Annual Report on Form 10-K for a list of factors that
could cause such differences.
%B NM %C 1,3,21 %D Coega new CEO
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