Alcan Acquires Entire Interest In Aluminium Dunkerque
January 12, 2004
On December 30, 2003, Alcan Inc. acquired the remaining 65% stake in the Aluminium Dunkerque smelter, located in Dunkerque, France, from the smelter's financial partners. The acquisition agreement was previously announced on July 9, 2003, by Pechiney, owner of 35% of the Aluminium Dunkerque smelter and now an Alcan subsidiary. The acquisition, including all of the shares and subordinated loans owned by the financial partners, was made for 248 million euros. The transaction also resulted in the consolidation by Alcan of an additional 112 million euros of debt on December 30, 2003. Aluminium Dunkerque's annual production capacity is 250,000 tonnes. "This acquisition adds an excellent primary aluminium asset to Alcan's global capacity," said Travis Engen, president and CEO of Alcan.
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