Alcan has sold its rolled products circles division. The Division located in Pieve, Italy has been sold to the Spanish, Aliberico Group. The transaction is expected to be completed during the final quarter of this year.
The sale comes after a review of its European rolled products businesses, where it was decided that they should concentrate on higher value opportunities.
The rolled products circles division manufactured circles from sheet aluminium. Their output was used largely by the kitchenware industry.
Despite the sale of the circles division, Alcan will continue to operate continuous casting and cold rolling operations, also located in Pieve.
Alcan have also announced that they intend to cease production at one of their two cold mills in Fairmont, West Virginia. The plant produces light gauge aluminium sheet and foil.
The company has sited global over capacity and increasing competition as reasons for the closure.
The facility is expected to be idled by the end of March next year. The closure will effect approximately a quarter of the plants 210 employees.
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