PARIS, France, April 23 /CNW Telbec/ - Alcan has reached an agreement in
principal to sell its Satma subsidiary to ALMECO Spa. Located in Goncelin,
France, Satma manufactures and sells capacitor foil for the electronic
industry as well as anodized strip for the lighting and decoration markets.
ALMECO Spa is an Italian company specialized in anodized strip for the same
"Alcan Engineered Products is concentrating its resources on businesses
with good potential for growth, where it can assume leadership positions
through a differentiated product offering. As such, the Satma business no
longer fits into Engineered Products' core business and will have better
opportunities for development with a company closer to its market and
technologies," said Christel Bories, President and Chief Executive Officer,
Alcan Engineered Products.
Final terms of the agreement are expected to be completed following the
conclusion of consultations with employee representatives. The transaction is
anticipated to close by the end of May 2007.
The Goncelin facility, near Chambery, employs 138 people and recorded
2006 revenues of (euro)34 million.
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.
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 M %C 1,4 %D Satma Sale
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