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Alcan Press Release - 8th October 2004Alcan Sells Assets Within its Ores and Concentrates Trading Business Montreal , Canada , October 8,2004 (Company release) — Alcan Inc. announced today that it has reached an agreement to sell assets of its Ores and Concentrates trading division to its current management team. Terms of the transaction will not be disclosed. "The Ores and Concentrates trading business is first rate; built and grown by the current management team over the past 12 years. This is a great opportunity to ensure a smooth transition for this business," said Geoffery Merszei, Executive Vice President and Chief Financial Officer of Alcan Inc. The scope of the transaction includes the net assets and commercial agreements of the copper, lead and zinc concentrate and secondary trading business, which was operated through Pechiney World Trade (USA), Inc. and Pechiney Trading Limited. Going forward, this business will be operated by Ocean Partners Holdings Limited, a private company established by the current management team. Alcan is selling this business as it is not core to its operations. 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 88,000 people and has operating facilities in 63 countries.
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