| Alcan Inc. (NYSE, TSX: AL) announced today that it has signed an exclusive supply agreement with R.J. Reynolds Tobacco Company (RJR Tobacco) for selected printed tobacco packaging, including folding cartons and labels. Terms of the transaction were not disclosed.
"The tobacco packaging market represents an attractive growth opportunity and is strategically important to Alcan Packaging," said Christel Bories, President and Chief Executive Officer, Alcan Packaging. "This transaction reinforces our position in North America and will allow us to better serve RJR Tobacco and build even closer links with this important customer," she added.
Alcan will construct a greenfield facility in the vicinity of RJR Tobacco’s plant, located in Winston-Salem, North Carolina, USA to supply RJR Tobacco with its folding carton and label requirements.
Commenting on the agreement, Ralf Wunderlich, President of Alcan’s Global Tobacco Packaging business, said, "We will be able to supply RJR Tobacco with reliable, cost-efficient, high quality packaging materials, and we are committed to making this relationship successful and mutually beneficial."
This exclusive supply agreement is part of a larger transaction involving RJR Tobacco, R.J. Reynolds Packaging, Alcan and four other packaging companies. Details of the larger transaction are outlined in a statement issued by RJR Tobacco in which Jeffrey A. Eckmann, executive vice president of strategy, integration, information technology and business development for Reynolds American Inc., the parent company of RJR Tobacco said, "The transaction represents an opportunity for the packaging business to maximize its potential by partnering with leaders in the packaging industry. These companies have a long-term interest in investing in and growing that business."
Alcan is a multinational, market-driven company and a global leader in aluminum and packaging, as well as aluminum recycling. With world-class operations in primary aluminum, fabricated aluminum 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.
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