| Alcan Inc. (NYSE, TSX: AL) announced today that it will explore the potential sale of its Food Packaging Plastic Bottle business as part of an ongoing refocusing of its food packaging activities. The business, which serves the food and beverage industry, has facilities in North America and France.
"Our food packaging business is moving strategically to focus greater resources on the flexible packaging market, where we already enjoy substantial scale and leadership positions and where we believe the most attractive growth opportunities lie," said Christel Bories, President and Chief Executive Officer, Alcan Packaging.
The Food Packaging Plastic Bottle business serves growing markets including juice, foodservice, and retort drink applications such as energy drinks, coffee-based beverages and infant formula. Additionally, it manufactures hot- and cold-fill containers for ketchup, pasta sauces, relish, cheese sauces, salsa, fruit, syrups, jams, jellies and other condiments, salad dressings, teas and juices.
"This business is a leader in its field, pioneering multi-layer bottle technology for hot- and cold-fill products," said Ilene Gordon, President, Alcan Packaging Food Americas. "We are confident that we can find a strategic buyer that will be attracted to the growth and profit potential of the business, as well as by its commitment to providing customers with top-tier quality and service."
With 2004 sales of US$130 million, this business operates three plants in the U.S., one in Canada and one in France. It employs approximately 495 people.
Alcan has retained J.P. Morgan Securities Inc. to assist in this process.
Alcan is a multinational, market-driven company and a global leader in aluminum and packaging. 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 almost 70,000 people and has operating facilities in 55 countries and regions.
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