Alcan Inc. announced its intention to pursue a spin-off to its shareholders of substantially all of the rolled products businesses held by Alcan prior to its acquisition of Pechiney. The proposed distribution will create the world's largest aluminum rolled products company. Alcan will continue to focus on developing its portfolio of low cost alumina and primary aluminum businesses as well as its high value-added specialty packaging, aerospace and engineered products businesses.
"The creation of this new company is further evidence of Alcan's focus on maximizing value and profitable growth. The transaction reflects the different business characteristics of the new company and those of the on-going Alcan. It also provides our shareholders with two distinct investment alternatives and increased dividend flows," said Travis Engen, Alcan’s president and CEO.
The new company will be the world's largest aluminum rolling business by revenue and production volume.
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