PARIS, France, June 5 /CNW Telbec/ - Alcan Inc. announced that it is
acquiring 76% of the shares of Alukbond India Private Ltd. from its owner,
Mr. Navin Keswani. The Company will be renamed Alcan Composites India
Private Ltd. Mr. Keswani will continue in the Company as a minority
shareholder, and a member of the Board of Directors. Mr. Keswani will also
serve as an active consultant to Alcan in growing the Company and otherwise
advising Alcan on its business interests in India.
"This agreement enables Alcan to better serve its customers in the fast
growing architectural facades market in India with ALUCOBOND(R), the world's
leading brand of aluminum composite materials. Alcan will now locally
manufacture and sell ALUCOBOND(R) which will significantly improve its
availability to customers," said Georg Reif, President of Alcan Composites.
"The combination of our partner's local market knowledge together with Alcan
Composites' technological leadership and global network offers significant
opportunities in the building and retail construction market," he added.
Alukbond India Private Ltd., headquartered in Mumbai, has 32 employees
and a manufacturing plant located in the state of Maharashtra. The production
facility currently manufactures the Alukbond brand of aluminum composite
panels. Its revenues in 2006 were under US$ 5 million. Following Alcan's
modification of the production line, the globally recognized ALUCOBOND(R)
quality will become available to the Indian architectural facades market.
Alcan's history as a partner to the Indian construction industry dates
back to 1996 when ALUCOBOND(R) was selected as cladding material for DLF
Corporate Park in Delhi. This was the first corporate building in India to use
aluminum composite material as facade cladding. There are numerous other
examples illustrating the popularity of ALUCOBOND(R) in India with many more
landmark projects including the National Stock Exchange, Mumbai's Diamond
Bourse, the headquarters of major corporations, shopping malls, airports,
sports stadiums and others.
Alcan's ALUCOBOND(R) aluminum composite material was developed to supply
a light and flexible material for facades. Available in different finishes, it
addresses both interior and exterior architectural applications and enables
the creation of a distinctive style and an appropriate image for every
building. Specified by architects, ALUCOBOND(R) is used all over the world and
millions of square meters have been sold since the product was launched in
1969. For more information please see: www.alucobond.com.
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, aluminum 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.
%B M %C 1,4,15,22 %D Alucobond India
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