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News

Alcan proposes restructuring at nine European sites

Alcan Inc : 25 November, 2004  (Company News)
Alcan Inc announced today that it has begun consultations with employee representatives on a proposed restructuring involving nine of its European sites. This intended measure is a result of changing market conditions and business realities.
Alcan Inc announced today that it has begun consultations with employee representatives on a proposed restructuring involving nine of its European sites. This intended measure is a result of changing market conditions and business realities.

'In the normal course of business, Alcan continually reviews its portfolio based on changing economic and market conditions,' said Travis Engen, President and Chief Executive Officer of Alcan Inc. 'This proposed restructuring is necessary to ensure Alcan's competitiveness in the market place and to create favourable conditions for future growth and expansion. Maintaining competitiveness is the best insurance for long-term sustainable employment,' he added.

The proposed restructuring effort would include:

*the downsizing of four sites - Laffon in Italy, Kolin in the Czech Republic, Froges (pharmaceutical workshop) in France and Alcan Mass Transportation Systems (AMTS) business unit in Zurich, Switzerland;
*two potential sales - Mercus and Froges (high purity business) in France; and
*three plant closures - Flemalle in Belgium, Cruseilles in France, and Garbagnate in Italy.

In Europe, there will be a proposed reduction of approximately 520 jobs, partially offset by the expected creation of 40 new jobs in France and Switzerland, as well as other additional jobs in Italy. Alcan currently employs 46 000 people in Europe.

Alcan also confirms a EUR 22 million investment at its Issoire plant in France, scheduled for 2005-2006, in order to increase its plate production capacity by 10% for the aerospace industry. With the present and foreseeable long-term high demand for aluminium in the aerospace industry, Alcan has identified this investment as an excellent platform to grow its high value-added aerospace business.

Costs associated with this proposed restructuring, while not yet determined, are anticipated to be within the scope of the expected overall Pechiney integration costs.

Recently, Alcan completed the social plan consultation process for its Paris headquarters restructure, resulting from the combination with Pechiney. 'The review of individual solutions for affected employees can now officially begin,' said Jean-Dominique Senard, Chief Executive Officer of Pechiney. 'Through continuous dialogue and discussions with employee representatives, the completion of these procedures will occur in a timely and respectful manner,' he added.
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