Oct 26 2007
Alcan today joined the Rio Tinto group following the successful Offer for Alcan by a subsidiary of Rio Tinto. The expanded aluminium product group, formed by the combination of Alcan and Rio Tinto's existing aluminium assets, today became the new global leader in aluminium and will be known as Rio Tinto Alcan.
Rio Tinto chief executive, Tom Albanese and Rio Tinto Alcan chief executive, Dick Evans hosted special events at Rio Tinto Alcan's Montreal headquarters and highlighted the opportunities created by bringing Alcan into the Rio Tinto Group, and the potential for continued strong growth in the aluminium sector. Similar employee events took place in Brisbane.
"I am proud to be here to welcome Alcan employees into the Rio Tinto family", said Tom Albanese. "They have built a company whose values we share.
"Rio Tinto's strategy is to create shareholder value through investing in high quality, long life, low cost assets, and Alcan is a terrific addition to the Rio Tinto group. Together, we have a fantastic opportunity to build an even stronger global aluminium business through profitable and sustainable growth." "I am personally delighted to have the opportunity to be part of the new leader in the global aluminium industry, Rio Tinto Alcan," said Dick Evans. "With our attractive cost position, strong technology portfolio, complementary refining and smelting assets, and a strong growth pipeline, Rio Tinto Alcan's mission is to create maximum sustainable value for Rio Tinto shareholders and to fulfil our mutual commitments to all of our stakeholders," he added.
The offer for Alcan, which was recommended by the Alcan Board, was announced by Rio Tinto on 12 July 2007 and has received approvals from relevant authorities and governments globally and the support of Rio Tinto shareholders.
Both Rio Tinto and Alcan have been recognised as leading stewards of the environment and the communities in which they operate, and in putting worker safety at the top of the priority list, and this philosophy would be maintained, stressed Tom Albanese and Dick Evans.
"Rio Tinto Alcan will maintain commitments to excellence in health, safety and environmental performance, working together to ensure the economic, environmental, and social sustainability of the communities in which we operate," said Dick Evans.
A new look and logo are being introduced for the Rio Tinto Alcan product group. The new logo represents the rich heritage of both companies and signifies strength, confidence and leadership.