PARIS, France, Dec. 6 /PRNewswire-FirstCall/ - Alcan has completed the acquisition of the remaining 70 percent stake of Carbone Savoie, and certain related technology and equipment, from GrafTech International Ltd. for US$135 million less certain price adjustments. The Company initially announced its intention to acquire these assets on October 19, 2006.
"With Carbone Savoie now part of the Alcan family, the Company has strengthened its commitment to aluminum smelting technology development in Europe and more particularly in France. We look forward now to begin fully integrating Carbone Savoie into the Company and implementing the Alcan Integrated Management System (AIMS), which includes a rigorous approach to environment, health and safety (EHS FIRST)," said Michel Jacques, President and Chief Executive Officer, Alcan Primary Metal Group.
Today, Alcan's proprietary world-leading AP Series Smelting Technology already utilizes Carbone Savoie's advanced graphitized cathode blocks.
With revenue of approximately US$114 million in 2005, Carbone Savoie is a leading and profitable producer of cathode blocks, including a growing share of graphitized cathode blocks, as well as sidewall blocks and ramming paste. Cathodes are essential to the production of aluminum, as they act as conductors in the electrolysis process. The business employs approximately 500 people at two sites, both in close proximity to Alcan's research and development centre in Voreppe, France.
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