Ceramic Industry News

Pechiney to Buy Out Shares in Aluminium Dunkerque

July 14, 2003
/ Print / Reprints /
ShareMore
/ Text Size+

The Pechiney Group, which currently owns 35% of the Aluminium Dunkerque smelter, has reached an agreement with its financial partners, who own the remaining 65% in the plant, to buy out their shares as of December 30, 2003. This agreement is the result of negotiations undertaken during the first half of 2003 with the financial partners with a view to anticipating the exercise of the put options that had been granted to them in June 1990, as stated on page F40 of Pechiney's 2002 20F. This transaction will deal with all of the shares and subordinated loans owned by the financial partners, which will be bought out for around 250 million euros. The consolidation of Aluminium Dunkerque will also lead to Pechiney taking over an estimated year-end debt of around 135 M€. "The planned buy out of all of Aluminium Dunkerque's shares emphasizes for Pechiney the success of the launch 10 years ago of the first AP30 smelter, now the benchmark plant in Europe as far as technical performances, economics and the environment are concerned," said Jean-Dominique Senard, head of Pechiney's Primary Aluminium Sector. "This plant is also the main producer of aluminium slabs in Europe. Pechiney is very appreciative of the constant trust shown by its financial partners since 1990."

For more information, call (33) 15628-2507 or fax (33) 15628-3338. Pechiney's website is located at http://www.pechiney.com .

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px