Alcan to sell its Froges rolling mill to Industrie Laminazione Alluminio S.p.a
ILA specializes in continuous casting and aluminium foil rolling, providing European and Mediterranean medium-size companies with aluminium solutions for the packaging and building markets.
05/01/06 Alcan Inc. has announced that it has signed an agreement in principle for the sale of its Froges, France, rolling mill to Industrie Laminazione Alluminio S.p.a (ILA). Based in Sardinia, Italy, ILA specializes in continuous casting and aluminium foil rolling, providing European and Mediterranean medium-size companies with aluminium solutions for the packaging and building markets.
With investments planned to upgrade efficiency and environmental performance, ILA intends to increase Froges' production volumes of foil products. ILA also intends to retain all employees. Froges rolling mill will operate under the name of Laminoirs Aluminium Froges. The transaction, which is not material to Alcan, is expected to be completed in the first quarter of 2006. Froges has almost 70 employees and annual revenues of approximately (euro) 25 million.
Alcan is a multinational, market-driven company and a global leader in aluminium and packaging. 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 almost 70,000 people and has operating facilities in 55 countries and regions.
