Alcan Signs Joint Venture Agreement for Greenfield Hot Rolling Mill in China
12/09/2007 00:53
PR Newswire
PARIS, September 11 /PRNewswire/ --
- Plant to Produce Advanced Heat-Treated Plates for Aerospace and General
Engineering Markets
PARIS, September 11 /PRNewswire/ --
Alcan today signed a joint venture agreement with Dingsheng Aluminium,
a privately owned Chinese foil producer, to set up a greenfield facility in
Zhenjiang, Jiangsu province, in China. Alcan is the majority partner in
the project. The new world-class facility will produce heat-treated aluminum
plates for the fast growing aerospace and general engineering markets.
"Today's signing marks a major milestone in Alcan Engineered Products'
continued expansion into the Chinese market. This is a major project that
will reinforce our leadership position in the growing aluminum plate market
and as a global leader in providing innovative solutions to our key
customers. We are very appreciative of the support of the Jiangsu province,
and are confident that this new joint venture will be a success," said
Christel Bories, President and Chief Executive Officer of Alcan Engineered
Products.
"This new state-of-the-art facility underscores Alcan's position as a key
supplier of innovative aluminum products for the rapidly expanding aerospace
and general engineering markets," said Jean-Philippe Caël, President of
Alcan's Aerospace, Transportation and Industry group.
The facility, which is subject to approval by the Central Chinese
Government and will also require final approval by Alcan's Board, will
produce aluminum plates with advanced patented alloys and will strengthen
Alcan's position in the heat-treated plate markets, specifically in the
aerospace sector where these plates are used in the wings and fuselages of
airplanes. The new facility will also serve the general engineering markets;
including, equipment for semi-conductors, home appliances, and plastic
injection molds to produce automotive parts.
Alcan Inc. (NYSE: AL, 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 Indexes consecutively since 2003. For more
information, please visit: http://www.alcan.com.
Statements made in this press release which describe the Company's
intentions, expectations or predictions may be forward-looking statements
within the meaning of securities laws. By their nature, forward-looking
statements involve risk and uncertainty; the Company's actual results or
actions could differ materially from those expressed or implied in such
forward-looking statements. Reference should be made to the Company's latest
Quarterly Report on Form 10-Q for a summary of factors that could cause such
differences.
%B NM %C 1,4,18,20,22 %D ATI China Investment
For further information: Media Contact: Chrystèle Ivins, +33-1-57-00-24-18, chrystele.ivins@alcan.com; Anik Michaud, +1-514-848-8151, Media.relations@alcan.com; Investor Contact: Ulf Quellmann, +1-514-848-8368, investor.relations@alcan.com