May 17 2004
Alcan Inc. announced the sale of the Boxal Group, a manufacturer of aluminum aerosol cans and part of Alcan Packaging, to Exal Holdings BV, a Dutch privately held company. The sale was approved by the European Commission and was part of the mandated divestments arising from Alcan’s acquisition of Pechiney in December 2003. Details of the transaction were not disclosed.
"We have completed this transaction in a timely manner consistent with our undertakings with the European Commission to divest of certain businesses. Exal is an ideal company to help ensure Boxal’s future," said Christel Bories, President, Alcan Packaging.
The Boxal Group employs approximately 630 people at three manufacturing facilities in France, the Netherlands and Switzerland as well as a sales office in Germany. The Exal group also has operations in the United States and Argentina.
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 even better 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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