ALCAN
Alcan Refutes Financial Times' Headline
Alcan Refutes Financial Times' Headline
MONTREAL, Canada, April 19/PRNewswire/ --
Alcan Inc. (NYSE, TSX: AL) announced today that the Financial
Times' April 18 report on Alcan's smelting operations in Europe
erroneously stated that Alcan is cutting 20 per cent of its smelting
capacity.
'It is true that energy costs currently pose challenges for some
of our smelters, but it is premature to conclude that these smelters
will close,' said Richard B. Evans, Executive Vice President of Alcan
Inc. who was interviewed by the newspaper on April 15, 2005. 'The
aluminium industry as a whole is affected by long-term power costs and
fluctuations in the euro. However, this goes beyond the industry and
impacts all energy-intensive sectors. For Alcan's part, most of our
capacity in Europe has a secure medium to long term energy supply,' he
added.
Alcan operates nine smelters in Europe, of which approximately 80
per cent of the total capacity is covered by medium to long-term power
contracts.
Alcan is a multinational, market-driven company and a global
leader in aluminium and packaging, as well as aluminium recycling.
With world-class operations in primary aluminium, fabricated aluminium
as well as flexible and specialty packaging, aerospace applications,
bauxite mining and alumina processing, today's Alcan is well
positioned to meet and exceed its customers' needs for innovative
solutions and service. Alcan employs 70,000 people and has operating
facilities in 55 countries and regions.
Source: Alcan Inc
Media Contact: Anik Michaud, Tel.: +1-514-848-8151,
media.relations@alcan.com. Investor Contact: Corey Copeland, Tel.:
+1-514-848-8368, investor.relations@alcan.com
19 apr 05 08:59