Alcan Closing Plants

Alcan announced plans to close several plants, as well as divest some non-core businesses. The company, headquartered in Montreal, also announced plans to sell its glass and Pharmatech packing assets.

Under its restructuring program, Alcan will close, within the next three months, two facilities in Canada and one facility in the United States. In addition, Alcan will divest its extrusion operations in Malaysia and Thailand.

Alcan's foil fabrication plant located in St-Laurent, Que., will close this coming February with all operations transferred to the company's foil fabrication plant in Toronto, Ontario.

Alcan will consolidate its Weston, Ontario and Toronto, Ontario food flexible packaging plants under one roof at the existing Weston plant.

Alcan will close its food flexible plant in Carson, Calif.

Alcan will divest its extrusion operations in Malaysia. The divestment process is currently in the due diligence phase, with expected completion of the sale in the first quarter next year.

Alcan will also divest its extrusion operations in Thailand. The due diligence has been completed and the sale and purchase agreement is expected to be signed by the end of the year. The divestment is expected to be completed by the end of February 2002.