Alcan acquires Pechiney Group

Montreal, QC – January 16, 2004 – Alcan has finalized the acquisition of aluminum and packaging producer Pechiney Group, and has announced the beginning of what it says is the first step in integrating the two companies. Today it provided details on its new management team and the management structure of the enlarged company, and says it will be announcing key positions in the coming weeks.

Prior to the acquisition, Alcan employed 53,000 workers in 41 countries. The company size has now grown to 88,000, with operating facilities in 63 countries.

On the research side, Alcan spent $115 million on research and technology in 2002, and has R&D facilities in Kingston, ON and Saguenay, QC along with Neuhausen, Switzerland, and Chicago and Detroit in the US.

In acquiring Pechiney, Alcan also acquired six specialist laboratories and a central laboratory in Voreppe (Isre, France).