RNS Number:8848W
Alcan Inc
6 June 2002


Press Release

----------------------------------------------------------------------

FOR IMMEDIATE RELEASE


                        Alcan Lays The foundations for a

                             joint venture in China

              Agreement with Qingtongxia Aluminum Company Includes

                 50% Ownership and Brownfield Expansion Options

Montreal, Canada - June 6, 2002 - Alcan Inc. announced today an agreement in
principle to form a joint venture with Qingtongxia Aluminum Company (QTX), a
leading aluminum company in China, for participation in its smelter.
Construction of the Qingtongxia smelter was completed in 1999 and it was fully
commissioned in 2001. The smelter currently uses modern prebake technology. The
proposed expansion will also be outfitted with modern prebake technology.


The proposed joint venture is will providean opportunity for Alcan to
acquire a 50% ownership position in the 130kt-aluminum smelter located in the
Ningxia Autonomous Region, China. In addition, Alcan has an option to secure a
50% interest in the planned and approved 150kt expansion of this smelter.


Recognizing the future economic growth in China, "this initiative offers
substantial opportunities for Alcan to increase shareholder value by
participating in the fastest growing aluminum market in the world," said Cynthia
Carroll, president of Alcan Primary Metal Group.


Alcan is a multinational, market-driven company and a global leader in aluminum
and specialty packaging with 2001 revenues of US$12.6 billion. With world-class
operations in primary aluminum, fabricated aluminum as well as flexible and
specialty packaging, Alcan is well positioned to meet and exceed its customers'
needs for innovative solutions and service. Alcan employs 48,000 people and has
operating facilities in 38 countries.


                                      -30-

Media Contact:     Marc Osborne


                +1 (514) 848-1342

Investor Contact:     Jo-Ann Longworth


                +1 (514) 848-8368




                      This information is provided by RNS
            The company news service from the London Stock Exchange
San Uk Grp.perp (LSE:BB32)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more San Uk Grp.perp Charts.
San Uk Grp.perp (LSE:BB32)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more San Uk Grp.perp Charts.