Alcan has announced the sale of its aluminum tubes business to its current
management team and 21 Centrale Partners, an investment fund specialized in
high-potential mid-size industrial companies. Details of the transaction were
"This new entity will be a leader in the aluminum tubes business, with
focused management and resources for its market," said Christel Bories,
President and Chief Executive Officer, Alcan Packaging. "Alcan's strategy is
to further direct our investments on markets with better growth rates, such as
our other tube businesses - plastic and laminate - which remain a core
operation within Alcan Packaging's Beauty Sector," she added.
The sale consists of three plants located in Saumur (France), Kolin
(Czech Republic) and Cividate al Piano (Italy). The aluminum tubes business'
780 employees will continue to work for the new entity, which will have annual
sales of approximately US$85 million.