| Alcan Inc. (NYSE, TSX: AL) announced today that it has reached an agreement to sell selected assets of its North American Packaging Plastic Bottle business to Ball Corporation for US$180 million. The sale, which is subject to compliance with the Hart-Scott-Rodino Act of 1976, is part of Alcan Packaging’s ongoing refocusing of its global activities on selected growth segments.
"With this sale, Alcan Packaging takes another significant step in our continued strategy of focusing resources on markets where we enjoy scale and leadership positions," said Christel Bories, President and Chief Executive Officer, Alcan Packaging.
"We are confident that the bottle business assets to be sold will benefit from new opportunities and realize their full growth potential with Ball, a company recognized for its commitment to the segment," said Ilene Gordon, President, Alcan Packaging Food Americas.
The assets to be sold include operations in Batavia, Illinois; Bellevue, Ohio; Newark, California; and Brampton, Ontario. These operations employ approximately 470 people. The sale does not include Alcan Packaging’s pharmaceutical plastic bottle operations.
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 approximately 70,000 people and has operating facilities in 55 countries and regions.
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. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and that the Company's results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Form 10-Q for a summary of major risk factors.
Alcan Media Contacts:
Anik Michaud
Tel.: +1-514-848-8151
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Polly Moles
Tel.: +1-773-399-3696
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Alcan Investor Contact:
Corey Copeland
Tel.: +1-514-848-8368
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Ball Corporation Contact:
Scott McCarty
Tel.: 303-460-2103
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