Alcan Sells Aluminum Tubes Business to Current Management and Investment Fund
Alcan Inc. (Montreal, Canada; http://www.alcan.com), a company specializing in aluminum and packaging, sold its aluminum tubes business to its current management team and 21 Centrale Partners, an investment fund specializing in high-potential mid-size industrial companies. Details of the transaction were not disclosed. The sale consists of three plants located in Saumur (France), Kolin (Czech Republic) and Cividate al Piano (Italy). The 780 employees affected by the sale will continue to work for the new entity, which will have annual sales of approximately US$85 million.