ALCAN / PECHINEY / ALUSUISSE
Three-way aluminium merger collapses / Alcan turns thumbs down on Pechiney plans
The planned merger of the three aluminium giants Alcan Aluminium Ltd. (PO Box 6090, Montreal, Quebec/Canada H3C 3A7), Pechiney S.A. (7 Place du Chancelier Adenauer, F-75218 Paris Cedex 16) and Alusuisse Lonza Group AG (Algroup, Feldeggstr. 4, CH-8034 Zürich) has collapsed. Observers say the hurdles to the three-way alliance presented by the European Commission appeared too high. The merger would have had serious consequences for the plastics packaging sector (see Plasteurope.com 17, 1999).
In February, the Commission expressed concern about the influence the three-way deal could have on the markets and called for the mergers to be confined to the Swiss-Canadian alliance. Talks on a two-way link between Alcan and Algroup are to continue, while Pechiney is expected to look for a new partner. Another mega deal pending in North America could also have repercussions for plastics packaging. Along with the EU, the US Federal Trade Commission (FTC) is now studying plans by Alcoa to take over Reynolds Metals (PIE 17, 1999).
In February, the Commission expressed concern about the influence the three-way deal could have on the markets and called for the mergers to be confined to the Swiss-Canadian alliance. Talks on a two-way link between Alcan and Algroup are to continue, while Pechiney is expected to look for a new partner. Another mega deal pending in North America could also have repercussions for plastics packaging. Along with the EU, the US Federal Trade Commission (FTC) is now studying plans by Alcoa to take over Reynolds Metals (PIE 17, 1999).
30.04.2000 Plasteurope.com [17418]
Published on 30.04.2000