Can Alcan claim to be the best?

It’s Corporate and Social Responsibility in question

 ii

Table of Contents 

Introduction………………………………………………………………………………………………………..1 

 

Chapter 1: Organizational Profile…………………………………………………………………………2 

 

1.1   Alcan’s business structure…………………………………………………………………………..2 

1.2   Executives…………………………………………………………………………………………………..7 

1.3   Board of Directors……………………………………………………………………………………….7 

1.4   University Links…………………………………………………………………………………………..9 

1.5   Lawsuits………………………………………………………………………………………………………9 

 

Chapter 2: Economic Profile………………………………………………………………………………11 

 

2.1   Financial data…………………………………………………………………………………………….11 

2.2   Main customers………………………………………………………………………………………….12 

2.3   Alcan and taxes………………………………………………………………………………………….13 

2.4   Corporate welfare………………………………………………………………………………………14 

2.5   Restructuring…………………………………………………………………………………………….14 

2.6   Spin-off of Novelis……………………………………………………………………………………..14 

2.7   Pechiney hostile take-over…………………………………………………………………………15 

2.8   New or planned investments………………………………………………………………………15 

2.9   Recent acquisitions……………………………………………………………………………………16 

2.10 Joint ventures……………………………………………………………………………………………17 

2.11 Main advertising firms………………………………………………………………………………..17 

2.12 Marketing strategies…………………………………………………………………………………..18 

2.13 Alcan’s main competitors…………………………………………………………………………..19 

 

Chapter 3: Political Profile…………………………………………………………………………………20 

 

3.1  Political connections…………………………………………………………………………………..20 

3.2  Business associations………………………………………………………………………………..20 

 

Chapter 4: Social Profile……………………………………………………………………………………23 

 

4.1  Social track record………………………………………………………………………………………23 

       4.1.1 India……………………………………………………………………………………………………23 

       4.1.2 Brazil………………………………………………………………………………………………….28 

       4.1.3 Cameroon…………………………………………………………………………………………..32 

       4.1.4 South Africa………………………………………………………………………………………..33 

       4.1.5 British Columbia, Canada……………………………………………………………………34 

4.2  Environmental track record…………………………………………………………………………35 

4.3  Labour track record…………………………………………………………………………………….36 

 

Chapter 5: Shareholder Profile…………………………………………………………………………..38 

 

5.1  Alcan’s main institutional investors…………………………………………………………….38 

5.1  Other investors…………………………………………………………………………………………..38 

 

Appendix 1: Relevant quotes……………………………………………………………………………..40 

 

Appendix 2: Alcan’s subsidiaries………………………………………………………………………42 

 

 – 1 –

Introduction 

 

Alcan is a very successful corporation. Since it broke away from U.S. competitor Alcoa in

1928, Alcan has become a billion dollar corporation with a position on the Fortune 500. It

has operations in dozens of countries and employs thousands of people worldwide in a

diverse range of operations. In 2005 it ranks as one of the top aluminum producers in

the world in terms of volume and annual revenue. Alcan has also been successful at

constructing an image of itself as a socially and environmentally concerned company. It

has undertaken a major overhaul of its public image by committing to lowering its

emissions beyond Kyoto levels, donating large sums of money to environmental

organizations, lobbying the United States Government for more recycling programs,

publishing sustainability reports, joining the United Nations Global Compact, and by

taking every opportunity possible to speak about how sustainable and environmentally

and socially conscious they are. Alcan’s public relations program has been very

successful. Despite the company’s reality as a leader in a dirty industry (strip mining,

smelting, hydro electric dam), well spent money on image provides the veneer of a clean

and conscious corporation with impeccably clean hands. In practice, however, Alcan is

much less successful at following its own rhetoric.

This profile uncovers Alcan’s powerful public relations machine by exposing how,

despite all of its talk of sustainability what it is most concerned with is sustaining profit

growth and cleaning its image as a destructive corporation. The profile looks at five

different aspects of the corporation: how it is organized; its economic situation; how it is

connected politically; its social, environmental, and labour track record; and its major

shareholders. The Organizational Profile looks at what Alcan actually produces and how

the company is structured and organized. This section also profiles Alcan’s executive

committee and its board of directors. The Economic Profile highlights Alcan’s present

financial situation, who their main customers are, along with their recent business

transactions and future plans. The Political Profile examines Alcan’s past and present

connections to powerful politicians and international institutions. Alcan’s affiliations with

renowned greenwashing institutions, such as the United Nations’ Global Compact, are

discussed in this section. The next section looks at Alcan’s social, environmental and

labour track record. This section uncovers Alcan’s numerous misdeeds in places like

Brazil, Cameroon, Canada and India all in the name of higher profits. The company’s

self-image as a socially and environmentally responsible corporation is also challenged

in this section. The profile ends with a fifth section listing Alcan’s main institutional

investors.

The profile exposes Alcan’s dirty side and contradicts the popular and dominant view of

the company as socially and environmentally responsible. The five sections of the profile

are designed to expose parts of the corporation that are vulnerable to specific corporate

campaign strategies. Hopefully this document will be successful in informing the public

that Alcan’s aim to be the most sustainable and environmentally conscious company will

be impossible until it halts its destructive operations in places like India.

 2

1. Organizational Profile 

Alcan employs 73,000 employees in 56 countries

Alcan was ranked number 404 on Fortune magazine’s 2003 list of the world’s largest corporations

Alcan trades on the New York Stock Exchange and the Toronto Stock Exchange under the

symbol AL

Track Alcan’s stock price at http://finance.yahoo.com/q?s=AL&d=t

 

Head Office 

1188 Sherbrooke Street West,

Montreal, Quebec

H3A 3G2

Tel. (514) 848-8000

Fax. (514) 848-8115

http://www.alcan.com

Mailing address 

Alcan Inc.

P.O. Box 6090

Montreal, Quebec

H3C 3A7

Alcan Business Group addresses:

Primary Metal and Bauxite and Alumina 

Address same as head office

Engineered Products 

7 Place du Chancelier Adenauer

75218 Paris Codex 16

France

Tel. +33 1 56 28 20 00

Fax. +33 1 56 28 33 92

Packaging 

Address same as Engineered Products

Fax. +33 1 56 28 33 21

Email contacts 

General inquiries: info@alcan.com

Media Relations: media.relations@alcan.com

1.1 Alcan’s business structure 

Alcan is made up of 4 main business groups responsible for the management of different

business units within each group. This section will show how Alcan is an extremely diverse

corporation involved in the production and sale of dozens of different products.

 3

Bauxite and Alumina: $1.5 billion1 in operating revenues or 6% of total 2004 annual 

revenue – Bauxite and alumina are the raw materials that go into the production of aluminum.

Aluminum can not be found in its pure form and therefore must be produced with bauxite and

alumina using a chemical process. The Bauxite and Alumina business group is responsible for

obtaining bauxite, either through extraction or purchasing, and then refining it into smelter-grade

and specialty aluminas. Smelter-grade alumina is then used in the production of primary

aluminum. Alcan’s Bauxite and Alumina group is made up of a global network of bauxite mines

and refineries which supply the company’s Primary Metal group and other customers with

smelter-grade alumina. Alcan owns and/or operates eight bauxite mines and deposits along with

seven smelter-grade alumina refineries as well as seven specialty alumina plants around the

world.

Bauxite mines2  

Australia, Northern Territory: Gove bauxite refinery and mine. In 2004 5.8 million tonnes

of bauxite were mined at the Gove mine.

Brazil, Amazon: Porto Trombetas mine. The Porto Trombetas mine is owned by the

Brazilian company Mineracao Rio do Norte (MNR), which is 13% owned by Alcan. In

2004 Alcan acquired approximately 2.1 million tonnes of bauxite from the mine. Bauxite

from the mine is processed at Alcan’s Vaudreuil plant in Jonquière (Quebec, Canada).

France, Montroc/Paulinet fluorspar mine, annual operating capacity is 70,000 tonnes.

Ghana, Awaso mine. The Awaso mine is owned by Ghana Bauxite Co. Ltd., which is

80% owned by Alcan. In 2004, Alcan purchased approximately 0.5 million tonnes of

bauxite from the company.

Guinea, Boké region. Alcan and Alcoa each own 45% of Halco (Mining) Inc., which in

turn is a 51% owner of Compagnie des Bauxites de Guinée S.A. (CBG). The Guinea

government owns the remaining 49% of the company. In 2004 Alcan purchased

approximately 5.7 million tonnes of bauxite from CBG. Bauxite purchased by Alcan from

CBG is refined at the Vaudreuil refinery. CBG has an annual operating capacity of 13.5

million tonnes, of which 6.2 million tonnes are reserved for Alcan.

 

Alumina refineries 

Australia, Northern Territory: Gove bauxite refinery and mine and QAL, Gladstone

(Alcan holds a 41.4% interest in the Gladstone refinery). In 2004 the refinery produced

2.0 million tonnes of smelter-grade alumina which was used at Alcan smelters in Kitimat

(British Columbia, Canada), Iceland, Quebec, Sebree (Kentucky, United States). Alcan is

currently planning a $1.3 billion expansion on its Gove Refinery that would increase its

overall bauxite production by 30%.3

Canada, Quebec, Vaudreuil alumina facility at Jonquiére. The Vaudreuil plant obtains

bauxite from Brazil, Guinea and Australia.

France – Alcan owns a 100% interest in three plants: Gardanne, Beyrede and La Bathie.

In 2004 the total production for the three plants was 6 million tonnes, one third of which

was used for smelter grade alumina with the remainder for specialty aluminas.

Primary Metals: $4.3 in operating revenues or 17% of 2004 annual revenue – This business

group encompasses all of Alcan’s aluminum and smelting facilities as well as the company’s

power generation installations. The unit employs 20,000 people worldwide. The Primary Metal

1

 Throughout the profile all dollar figures are in US unless otherwise noted

2

 All information and data taken from Alcan’s 2004 annual report

3

 Alcan Investor Report: Bauxite and Alumina, Micheal Hanley, December 7th, 2005.

 4

group produces aluminum in various forms for use in a number of markets including: automotive;

beverage; foil; transportation; building; construction; consumer goods; and machinery sectors.

Alcan’s aluminum is processed at 24 primary aluminum smelters operated or partially owned by

the company. The list below shows the location, percentage of ownership and annual capacity of

Alcan’s smelters.

Country Location % of Ownership by 

Alcan Annual Capacity 

(thousands of 

tonnes) 

Australia Tomago, New South

Wales  51.5 263 (Alcan’s share)

Cameroon Edea (Compagnie

Camerounaise de

l’Aluminum, Alucam)

47 45 (Alcan’s share)

Canada Alma, Quebec 100 402

Sept-Iles (Alouette),

Quebec 40 98 (Alcan’s share)

Beauharnois, Quebec 100 51

Bécancour, Quebec 25 102 (Alcan’s share)

Kitimat, British

Columbia 100  277

Grande-Baie, Quebec 100 196

Latherier, Quebec 100 219

Shawinigan, Quebec 100 93

Arvida, Quebec 100 163

China Qingtonxia 50 75 (Alcan’s share)

France Dunkerque 100 256

Lannemezan 100 50

Saint-Jean-de- 

Maurienne 100 135

Iceland Reykjavik (ISAL)  100 176

The Netherlands Vlissingen 85 190 (Alcan’s share)

Norway Husnes (SORAL) 50  82 (Alcan’s share)

Switzerland Steg 100 44

United Kingdom Lynemouth  100 169

 Lochaber 100 41

United States Sebree, Kentucky 100 196

Electricity 

“The company believes that its competitive standing in aluminum production is enhanced by its ability to supply its own 

power to many smelters at low cost”4 

 

The smelting of aluminum requires an enormous amount of electricity and represents 30-35% of the production costs of

primary aluminum.5 In order to smelt one tonne of aluminum, between 13.5 and 18.5 megawatt hours of electricity are

required to separate the aluminum from the oxygen in alumina. To put this into perspective, in 2004 Alcan smelted

3,435,000 tonnes of aluminum. When multiplied by 16 megawatt hours, this means that Alcan consumed 54,960,000

megawatt hours (or 54,960 gigawatt hours) of electricity in 2004 for the production of aluminum. That is equivalent to the

amount of power annually used by 129,014,084 modern energy efficient refrigerators.6

4

 Alcan 2004 Annual Report, p. 44

5

 Speech by CEO Travis Engen at the 71st Aluminum Association Annual Meeting, October 18, 2004,

http://www.alcan.com/web/publishing.nsf/Content/71st+Aluminum+Association+Annual+Meeting

6

 Ontario Ministry of the Environment, Fact Sheet, http://www.ene.gov.on.ca/envision/news/2004/071901fs1.htm

 5

Alcan meets its electricity needs through contracts at highly subsidized prices from local utilities or from the generation of

power from its own hydroelectric and coal-fired plants. Alcan also sells electricity generated at its Canadian Hydroelectric

facilities to various utilities for a large profit. Electricity sales are taking place while production at Alcan smelters in British

Columbia and Quebec is being cut back. When the smelters and hydroelectric dams were constructed, Alcan was

committed to using the electricity to ensure production would run at full capacity. In the case of Quebec Alcan even

managed to gain an exemption for its hydroelectric dams from nationalization in the early 1960s. Workers at Alcan’s

smelter in Kitimat and representatives from the local community are involved in an ongoing struggle with the corporation

to ensure that electricity generated at Alcan’s hydroelectric dams is being used to ensure full production capacity at the

smelter.

In England and Scotland Alcan operates its own coal-fired and hydroelectric generating plants. In Norway, the Vigelands

Metal Refinery (50% owned by Alcan) obtains its power from the Vigelands power stations. Alcan’s smelter in the United

States purchases power under long-term and short-term contracts. In Iceland Alcan’s smelter is supplied power from the

national power company, while its Swiss smelter is supplied power under a short-term contract. In France, Alcan’s two

large smelters are supplied power under long-term contracts, while the smaller smelter is entering the final year of a long- 

term contract. Alcan’s smelter in the Netherlands (85% owned by the company) has a number of short-term contracts. In

Australia and Cameroon, Alcan purchases power under long-term contracts.

Please see the Environmental track record section below (see p.35) for a more detailed look at how Alcan’s involvement

in an energy intensive industry has had a devastating effects on socioeconomic situations in different countries.

Alcan owns and operates the following power generation facilities:

Canada

British Columbia – Kemano

Quebec – Chute-des-Passes, Chute-du-Diable, Chute à la Savanne, Isle-Maligne, Chute-à-Caron, and Shipshaw

China – Alcan has a 21.8% interest in the Daba power plant in Ningxia Province.

Norway – Vigelands

United Kingdom

Lynemouth (coal-fired)

Highlands Power Stations

 

Engineered products: $5.2 billion in operating revenues, or 21% of Alcan’s 2004 annual 

revenue – Alcan’s Engineered Products Group, whose headquarters are in Paris, produces

composites and manufactures engineered or fabricated aluminum products for a number of

different uses. Alcan’s Engineered Products Group employs approximately 12,000 employees at

48 production facilities, 50 Service Centre facilities and 37 Alcan International Network

commercial offices around the world. The aluminum used to produce engineered products is

purchased from Alcan’s Primary Metal business group and third party suppliers. The group’s

product range is divided into the following business units:

Aerospace, Transport & Industry (ATI) – serves customers in aerospace, marine, road

and rail transportation and other engineered industries with plate, sheet, hard extrusions

and castings. ATI’s production facilities are located in France, Switzerland, United 

Kingdom and the United States. 

Composites – manufactures multi-material composites for applications including building

facades, display and transportation. This unit includes Alcan’s subsidiary Alcan-Baltek,

which supplies a number of arm manufacturers with materials (see Economic profile

below for more details). Composites main plants are located in China, Brazil, Ecuador, 

Germany, Switzerland, United Kingdom, and United States. 

Cable – This unit produces cable for the transmission of electricity. Alcan Cable is one of

the largest cable manufacturers in North America and supplies many sectors of the

electrical industry and utilities, electrical distributors and original equipment

manufacturers. Main locations are in Canada and the United States.

Extruded products – This unit produces parts for rail cars, buses, the automotive

industry as well as industrial components by forcing hot metal through a die to create

 6

profiled shapes. Plants are located in the Czech Republic, France, Germany and 

Switzerland

Automotive structures – This unit serves the automotive industry. Main production

facilities are located in Canada, Germany, Slovenia and the United States

Service Centres – The Service Centres offer various forms of services for local

customers including cutting, shaping, machining, and assembling. Alcan’s Service

Centre’s are located in Austria, Belgium, France, Germany, Hungary, Italy, the 

Netherlands, Portugal, Romania, Slovenia, Spain, Switzerland and the United 

Kingdom.

Alcan International Network – This sales organization is made up of 37 offices in 36

countries that sell and source products in 60 countries. It provides marketing and

sourcing services for Alcan Business Groups and third party customers. Alcan

Engineered Products has offices in the following countries: Algeria, Australia, Austria, 

Belgium, Brazil, Canada, China, Czech Republic, Denmark, Egypt, France, Germany, Greece, 

Hungary, Italy, Japan, Korea, Mexico, The Netherlands, Norway, Philippines, Portugal, 

Romania, Russia, Singapore, South Africa, Spain, Thailand, Turkey, United Arab Emirates, 

the United Kingdom and the United States

Ventures – This unit comprises of different smaller operations offering products such as

capacitor foil, refrigeration panels and composite structures for transportation.

Specialty Sheet – This unit serves customers in the can stock, bright sheet, closures,

automotive, building, foil stock and standard rolled products sectors with coils and sheet.

Packaging: $6.1 billion in operating revenues or 25% of Alcan’s 2004 annual revenue – This

Group, whose headquarters are in Paris, manufactures packages for the food, pharmaceutical &

medical, beauty & personal care and tobacco industries. Alcan’s Packaging Group offers

products using plastics, engineered films, aluminum, paper, paperboard and other materials. This

group generated more revenue than any other for the company in 2004. The Packaging Group is

divided into six sectors and employed 34,000 people:

Food Packaging Europe; Food Packaging Americas; Food Packaging Asia – These

three sectors manufacture a number of packaging products for the food, meat, dairy and

beverage industries. The sectors provide supply packaging around the world for the

following markets: beverages, biscuits/cookies/cereals, confectionery, dairy, fresh and

frozen food, instant products, pet food, retorded foods and snacks.

Global Pharmaceutical Packaging – Alcan is one of the world’s largest suppliers of

packaging to the pharmaceutical industry. Products include flexible packaging, caps and

closures, contract packaging, folding cartons, glass vials, ampoules and tubing products,

aluminum cans and bottles.

Global Beauty Packaging – Alcan is also one of the world’s largest suppliers of beauty

packaging products for make-up, fragrance and personal care markets.

Global Tobacco Packaging – The company is a large and important supplier of

packaging products, including folding cartons, flexible packaging, inner bundling and

decorated tinplate containers, to the global tobacco industry. On its website, Alcan calls

itself the second largest producer in Tobacco packaging, although other sources cite that

Alcan is ranked No. 1 in tobacco packaging7.

Alcan’s Packaging Group has 179 plants located in 27 countries:

Food Packaging Europe has plants in the following countries: Czech Republic (1),

France (11), Germany (5), Ireland (1), Italy (4), Morocco (1), the Netherlands (1),

Portugal (1), Spain (4), Switzerland (2), Turkey (1), the U.K. (2), Chile (1) Canada (1) and

the United States (1)

7

 “CB Richard Ellis Awarded Global Transaction Management Assignment for Alcan, Inc.” Business Wire, Feb. 9, 2005.

 7

Food Packaging Americas has plants in the following countries: Argentina (2), Brazil

(1), Canada (2), Mexico (2), France (1), the U.K. (1) and the United States (19)

Food Packaging Asia has plants in the following countries: China (4), Indonesia (1),

New Zealand (1), Philippines (1) and Thailand (2)

Global Pharmaceutical Packaging has plants in the following countries: Belgium (1),

Brazil (1), Canada (1), China (1), France (7 plants), Germany (1), Italy (1), Puerto Rico

(2), Switzerland (1), the U.K. (1), the U.S. (20)

Global Beauty Packaging has plants in the following countries: Brazil (2), Canada (1),

Czech Republic (2), France (15), Germany (1), Indonesia (1), Italy (5), Mexico (3), Poland

(1), Spain (2), the U.K. (1) and the U.S. (5)

Global Tobacco Packaging has plants in the following countries: Canada (1), Germany

(1), Kazakhstan (1), the Netherlands (2), Turkey (1), the U.K. (20), the U.S. (2)

 

 

1.2 Executives and their salaries 

Executive 2004 Salary (including bonus and

other annual compensation)

Travis Engen, President and Chief Executive Officer $3,879,854 

Michael Hanley, Executive Vice President and (interim)

Chief Financial Officer n.a.

David McAusland, Executive Vice President, Corporate

Development and Chief Legal Officer n.a.

Daniel Gagnier, Senior Vice President Corporate and

External Affairs n.a.

Gaston Ouellet, Senior Vice President, Human

Resources n.a.

Richard Evans, Executive Vice President $2,403,021 

Jacynthe Côté, Executive Vice President, President and

Chief Executive Officer of Bauxite & Alumina n.a.

Cynthia Carroll, Senior Vice President and President and

Chief Executive Officer of Primary Metal $1,481,942

Michel Jacques, Senior Vice President and President

and CEO of Engineered Products n.a.

Christel Bories, Senior Vice President and President and

CEO of Packaging n.a.

[Source: Alcan Inc. Proxy Circular 2005] 

 

 

1.3 Board of Directors 

 

Roland Berger – Director since 2002  

Berger is the non-executive Chairman of Munich-based Roland Berger Strategy Consultants, a 

leading global strategy consultant.  

 

L. Denis Desautels – Director since 2003 – Contact information at the University of Ottawa: 

Tel: (613) 562-5800, ext. 1653, email: cldenis@uOttawa.ca 

Desautels is Executive-in-residence at the School of Management of the University of Ottawa.  

He was Auditor General of Canada from 1991 to 2001, prior to which he had been a senior 

partner of the accounting firm of Ernst & Young LLP. Desautels is Chairman of the Laurentian 

Bank of Canada, a Director of The Jean Coutu Group (PJC) Inc. and of Bombardier Inc. He is 

also a member of the Accounting Standards Oversight Council of the Canadian Institute of 

Chartered Accountants. 

 

Travis Engen – Director since 1996  

 

 

 8 

Engen has been President and CEO of Alcan since March 2001. Prior to joining Alcan on 12 

March 2001, Engen was Chairman and Chief Executive of ITT Industries, Inc. since 1995. He is a 

former member of the U.S. Government’s Defense Business Board. He is 

also a Director of 

Lyondell Chemical Company and the Canadian Council of Chief Executives and is Chairman of 

the International Aluminium Institute. 

 

L. Yves Fortier – Director since 2002  

Fortier is Chairman of the Board of Alcan and is the Chair and senior partner of the law firm 

Ogilvy Renault in Montreal. From 1988 to 1992, he was Ambassador and Permanent 

Representative of Canada to the United Nations. Fortier is also a Governor of the Hudson’s Bay 

Company and a Director of Nortel Networks Corporation, NOVA Chemicals Corporation and the 

Royal Bank of Canada.  

 

Jean-Paul Jacamon – Director since 2004  

Jacamon is non-executive Chairman of Bonna Sabla and of Gardiner Group. He was previously 

Chief Operating Officer and Director of Schneider Electric from 1996 to 2002. He is also a 

Director of Le Carbone Lorraine, STACI and AMEC plc.  

 

William R.  Loomis – Director since 2002  

Loomis is Limited Managing Director of Lazard LLC, where he was formerly Chief Executive 

Officer from November 2000 to December 2001. He was previously Managing Director of Lazard 

LLC from June 1995 to November 2000. He is a Director of Ripplewood Holdings LLC. 

 

Yves Mansion – Director since 2004  

Mansion is Chief Executive Officer of Société Foncière Lyonnaise and a member of the French 

Collège de l’Autorité des Marchés Financiers. He was Group Managing Director of Assurances 

Générales de France from 1990 to 2001. Mansion is a member of the supervisory board of Euler 

Hermes and Deputy Director of l’Entreprise de Recherche et d’ 

Activités Pétrolifères. 

 

Christine Morinpostel – Director since 2003  

Morin-Postel was, until 2003, Executive Vice-President in charge of human resources at Suez 

Group. She was previously Chief Executive Officer of Société Générale de Belgique from 1998 to 

2001. Morin-Postel is a Director of Arlington Capital Europe, 3i Group plc and Pilkington plc. 

 

J.E. Newall – Director since 1985  

Newall is Chairman of NOVA Chemicals Corporation and of Canadian Pacific Railway Limited; he 

was Vice-Chairman and Chief Executive Officer of NOVA Corporation from 1991 to 1998. He is a 

Director of Maple Leaf Foods Inc. and the Royal Bank of Canada. 

 

Dr. H. Onno Ruding – Director since 2004  

Dr. Ruding is a former Minister of Finance of the Netherlands and was an Executive Director of 

the International Monetary Fund in Washington, D.C. and a member of the Board of Managing 

Directors of AMRO Bank in Amsterdam. He is the former Vice Chairman of Citicorp and Citibank, 

N.A. Dr. Ruding serves as a Director on the boards of Corning Inc., Holcim AG and RTL Group 

and is President of the Centre for European Policy Studies (CEPS) in Brussels. Dr. Ruding is also 

a member of the international advisory committees of Robeco Group and the Federal Reserve 

Bank of New York. 

 

Guy Saint-Pierre – Director since 1994  

Saint-Pierre was Chairman of the Board of the Royal Bank of Canada until his retirement on 27 

February 2004. He was President and Chief Executive officer of SNC-Lavalin Group Inc. from 

1989 to 1996 and Chairman from 1996 to 2002. Mr. Saint-Pierre is a Director of General Motors 

of Canada and the Institute for Research on Public Policy. 

 

Gerhard Schulmeyer – Director since 1996 – Contact information at the Massachusetts 

Institute of Techonology: Tel: (617) 253-7483 Fax: (617) 253-2326, email: gerhard@mit.edu  

 

 

 9 

Schulmeyer is Professor of Practice at the MIT Sloan School of Business. From 1998 until 2001, 

he was President and Chief Executive Officer of Siemens Corporation. He serves on the boards 

of Zurich Financial Services, Ingram Micro Inc., and Korn/Ferry International as well as the 

international advisory board of Banco Santander Central Hispano. 

 

Paul M. Tellier – Director since 1998  

Tellier is the former President and Chief Executive Officer of Bombardier Inc. From 1992 to 2002, 

he was President and Chief Executive Officer of the Canadian National Railway Company. He is 

a Director of McCain Foods, Bell Canada and BCE Inc.  

 

Milton K. Wong – Director since 2003 – Contact Information: President’s Office 

Simon Fraser University, 8888 University Drive, Burnaby, British Columbia, Canada V5A 

1S6, Tel: (604) 291-4641, Fax: 604.291.4860 

Wong is Chairman of HSBC Asset Management (Canada) Limited and Chancellor of Simon 

Fraser University in British Columbia (until June, 2005). He serves as a Director on the boards of 

the Aga Khan Foundation Canada, the Canada-U.S. Fulbright Program, The Canadiana Fund, 

The Canadian Institute for Advanced Research, Genome BC, Mr. and Mrs. P.A. Woodward’s 

Foundation, the Pierre Elliott Trudeau Foundation and Stem Cell Network. He is the founder and 

past–Chairman of the Laurier Institution, a non-profit organization for advancing knowledge of the 

economics of cultural diversity. 

 

 

1.4 University links 

 

École Polytechnique de Montréal – Alcan’s serves as the Industrial Chair on Safety of Concrete 

Dams.8  

Massachusetts Institute of Technology – Alcan Board member Gerhard Schulmeyer is a 

Professor of Practice at the MIT Sloan School of Business. 

McMaster University – In 2002 Alcan donated $1 million to the Faculty of Health Sciences. 

Alcan also supports McMaster’s Centre for Automotive Materials (MCAM). The Centre is also 

supported by the Ontario Research and Development Challenge Fund, the Canaa Foundation for 

Innovation, the Natural Sciences and Engineering Research Council and Materials and 

Manufacturing Ontario9.   

Simon Fraser University – Alcan Board member Milton Wong serves as Chancellor at Simon 

Fraser University. 

Université d’Ottawa – Alcan Board member Denis Desautels is the Executive-in-Residence at 

the School of Management of the University of Ottawa. 

L’Université de Quebec à Chicoutimi (UQAC) – UQAC is hosting a major research project that 

included the planning of the new Alma smelter. 

 

 

1.5 Lawsuits  

 

In early 2004 Alcan paid $13.6 million to the United States Environmental Protection 

Agency to cover environmental cleanup costs at two sites in Northern New York State. 

Alcan’s US subsidiary, Alcan Aluminum Corporation, was originally charged by the United 

States Justice Department in 1987. One of the sites was a waste incineration facility that 

Alcan operated in the early 1970s. The soil is now contaminated with PCBs. Alcan also 

                                                      

8 

 CADAM Information, École Polytechnique de Montréal. See website: http://www.struc.polymtl.ca/cadam/index2.htm, 

accessed on March 14th, 2005. 

9 

 “Development of new materials for automobiles powers research in new McMaster centre,” Shelly Easton, McMaster 

Courrier, January 15th, 2001. Available from:  http://www.mcmaster.ca/ua/opr/courier/jan1501/news.html, accessed on 

March 23rd, 2005.  

 

 

 10 

stored similar waste at the other site during the same time period.10 The responsibility for 

this case was assumed by Novelis in 2004. 

 

In 1997 A subsidiary of the now bankrupt Enron Corporation purchased a portion of 

Alcan’s contract to supply power from its Kemano power complex in British Columbia to 

B.C. Hydro’s affiliate, Powerex Corporation (Powerex). After Enron’s collapse in late 

2001, the subsidiary was unable to fulfill its contract with Powerex leaving Alcan with over 

$100 million (U.S.) in power obligations. In late 2004 Alcan agreed to repay Powerex 

$110 million (U.S.) to settle the dispute.11 

 

In January 2004 the District of Kitimat (where Alcan operates a smelter) asked the 

Supreme Court of British Columbia to stop Alcan from selling power from its Kemano 

power plant to third parties.12 The District says that Alcan’s power sales are in 

contravention of the Industrial Development Act and the terms of the company’s water 

license that give it access to the headwaters of the Nechako River for the purpose of 

aluminum smelting. Alcan uses the electricity from its power plant to run its aluminum 

smelter, but also sells electricity from the plant to third parties including B.C. Hydro. The 

Mayor of Kitimat says that the sale of power is costing local jobs even though Alcan was 

given rights to a public resource at a low cost in order to operate their smelter at full 

capacity.13 The District of Kitimat is challenging Alcan’s desire to sell power instead of 

using to ensure that the smelter operates at full capacity thus averting mass layoffs. In 

January 2005 the B.C. Supreme Court announced that the District of Kitimat does not 

have legal standing to pursue court action against the company. In response to the ruling 

the Mayor of Kitimat said that “Aluminum production in Kitimat is very profitable, but 

power sales are even more profitable. Now the company [Alcan] wants to keep the 

resource and sell the power, reneging on its contractual commitment to the jobs and 

economic benefit for which the resource was exchanged.”14 The District vowed to 

continue the legal fight. 

 

New Jersey – Alcancorp is a third party defendant in a suit seeking response costs 

initiated by the State of New Jersey in 1995. Alcancorp allegedly used a disposal 

company that dump hazardous material in a landfill site in Pennsauken.15 

France – In 1999, a site owned by one of Alcan’s French subsidiaries, Lawson Mardon 

Trentesaux SA, was investigated. The land was found to be contaminated by solvent, fuel 

and chemical products resulting from engraving and packaging activities.16 

 

   

 

                                                      

10 

 “EPA: Alcan pays nearly $14 million for hazardous waste cleanup in Oswego and Fulton”, The Associated Press and 

Local Wire, March 24, 2004 

11 

 Alcan’s 2004 annual report, p. 90 

12 

 “Kitimat District accuses Alcan of reneging on contract”, Financial Post, January 17, 2004 

13 

 “District of Kitimat and Ville de Saguenay comment on Alcan power sales”, Canada NewsWire, March 10, 2004 

14 

 “B.C. Supreme Court denies Kitimat’s right to standing on Alcan power sales issue”, Canada NewsWire, January 14, 

2005 

15 

 Alcan’s 2004 Annual Report, p. 35 

16 

 ibid 

 

 

 11 

2. Economic Profile 

 

 

2.1 Financial Data 

 

Data 2004 2003 % change 

Revenue $24.88 billion $13.85 billion % 79 

Profit $258 million $64 million % 303 

Total debt $9.40 billion $9.54 billion % (1.4) 

Total equity and 

invested capital $31.32 billion $30.90 billion % 1.3 

[Sources: Alcan 2004 Annual Report, Wall Street Journal] 

 

 

Alcan’s revenues by market 

 

Market Percentage of 2004 annual 

revenue Percentage of 2003 

annual revenue 

Building and construction 6% 8% 

Electrical 3% 4% 

Beverage cans 10% 14% 

Transportation 8% 7% 

Aluminum Ingot 17% 18% 

Packaging 37% 29% 

Other 19% 20% 

[Source: Alcan 2004 Annual Report, p. 33] 

 

 

Alcan’s Third-Party Revenues by Business Group, 2004 

(Third-Party Revenues refers to revenues from outside customers, not transactions within Alcan 

Business Groups) 

 

Business Group 2004 2003 

Bauxite and alumina 1.50 billion 539 million 

Rolled products Europe 3.21 billion 2.45 billion 

Primary metal 4.27 billion 2.64 billion 

Rolled Products Americas and 

Asia 4.38 billion 3.52 billion 

Engineered products 5.16 billion 1.76 billion 

Packaging 6.11 billion 2.86 billion 

Adjustment for equity-accounted 

joint ventures (40) million 18 million 

Other 263 million 36 million 

Total annual revenue 24.88 billion 13.85 billion 

[Alcan’s 2004 Annual Report, p.41] 

 

 

Bauxite and Alumina 

 

Close to 60% of the alumina purchased and produced by Alcan is used to meet the corporation’s 

own smelting requirements. The remaining 40% is sold to third parties. Alcan currently holds 10% 

of the world alumina market and 10% of the world bauxite market. The company is interested in 

building a bauxite mine in Orissa (India) because it has the potential for a very low investment 

and operating cost per tonne of high quality bauxite. 

 

 

 12 

 

2.2 Main Customers 

 

Aerospace:  

Customers include: Boeing, ATR, Dassault, Embraer, Eurocopter, Sonaca, Socata,17 and Airbus 

(Alcan is the lead supplier of aluminum plate for Airbus’ new super jumbo aircraft, the A38018). 

Alcan’s aerospace market revenues19: 74% commercial; 10% regional, business, jets and others; 

16% military and space. Geographically: 74% Europe, 20% North America, 6% Asia 

 

 

Weapons manufacturers 

 

In 2004 Alcan’s Engineered Products Business group Aerospace business unit generated $1.15 

billion in operating revenue. Sixteen percent of this total came from sales to customers in the 

military and space industries. This financial data is not insignificant, and given that Alcan claims 

to be a “key supplier to both European and North American military markets”, it is clear that the 

company is involved in the arms trade. Through a company acquired in 2003, Baltek, Alcan is 

supplying some of the world’s largest builders of military equipment. Some of Baltek’s main 

customers include: 

 

Northrop Grumman – In 2004 Northrop Grumman selected Alcan-Baltek’s structural foam core 

material for use on its Multirole Electronically Scanned Array (MESA) radar. The radar is mounted 

on top of a Boeing 737 aircraft and is designed for Airborne Early Warning & Control (AEW&C). 

Boeing – Alcan-Baltek’s lightweight balsa compound is used in the engine intake of Boeing’s 

proposed X32 fighter jet. 

Lockheed Martin – Alcan-Baltek supplies Lockheed Martin with structural foam core material for 

use in the construction of NASA’s next generation space shuttle.20 

 

Alcan’s involvement with the arms industry is in contradiction of their image as a sustainable and 

caring corporation.  

 

 

Automotive: 

Customers include: Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Ferrari, Ford, GMC, Jaguar, 

Land Rover, Lincoln, Mercedes-Benz, Morgan, Oldsmobile, Opel, Peugeot, Porsche, Pontiac, 

Renault, Saab Scania, Skoda Auto, Volvo, Volkswagen21.  

Revenues by Customer 2003: Audi (17%), DC (16%), GM (8%), VW (7%), Kirchoff (6%), SAS 

(6%), VDO (4%), BMW (4%), Tomos (3%), TRW (3%), Strojmetal (2%), Magna (2%), Other 

(22%)22.  

 

Food Packaging: 

Customers include: Heinz, Cadbury Schweppes, Coca-Cola23, UB, Nestle24, Danone, Pepsico25

Unilever, Kraft, Mars Incorporated, P&G, LVMH (Moet Hennessy, Louis Vuitton)26.  

                                                      

17 

 See website: http://www.alcanautomotive.com/overview.html, accessed on March 14th, 2005. 

18 

 Alcan Inc 2004 Annual Report, p. 47. 

19 

 Alcan Investor Workshop: Alcan Engineered Products, Michel Jacques,  December 7th, 2004.  

20 

 For more information on Lockheed Martin please visit the Polaris Institute website: 

http://www.polarisinstitute.org/corp_profiles/public_service_gats_pdfs/lockheed.pdf 

21 

 See website: http://www.alcanautomotive.com/partnerships.html, accessed on March 14th, 2005. 

22 

 Alcan Investor Workshop: Alcan Engineered Products, Michel Jacques, December 7th, 2004.  

23 

 For more information on The Coca-Cola Company please visit the Polaris Institute website: 

http://www.polarisinstitute.org/corp_profiles/public_service_gats_pdfs/coca_cola.pdf 

24 

 For more information on Nestle please visit the Polaris Institute website: 

http://www.polarisinstitute.org/corp_profiles/public_service_gats_pdfs/nestle_feb_05.pdf 

25 

 For more information on Pepsico please visit the Polaris Institute website: 

http://www.polarisinstitute.org/corp_profiles/public_service_gats_pdfs/pepsi_jan_05.pdf 

 

 

 13 

 

Pharmaceutical Packaging: 

Customers include: BD, GlaxoSmithKline, MERCK, Novartis, Pfizer, Sanofi Aventis Group, 

Wyeth, Aventis, Bayer, Bristol-Myers Squibb27

 

Beauty Packaging: 

Customers include: L’Oreal, LVMH, Estée Lauder, Gucci Group, YSL Beaute, Revlon, Chanel, 

Wella, Beiersdorf, Puig Beauty & Fashion Group, Avon, Boots, Schiseido, P&G, Victoria’s Secret, 

O Boticario, Yves Rocher.28 

 

Tobacco Packaging: 

Customers include: British American Tobacco, Philip Morris International, Philip Morris USA, 

Imperial Tobacco, Reemtsma, JTI, RJ Reynolds Tobacco Holdings, Rothmans Inc., Altadis, 

Gallaher Group Plc.29  

 

Alcan and big Tobacco 

 

Alcan is one of the biggest suppliers of packaging to the large multinational tobacco companies. 

Alcan’s packaging division is in the process of expanding its operations into China, Eastern 

Europe, Southeast Asia, Latin America and Russia. This strategy follows the lead of the big 

tobacco multinationals who are investing in these regions. In a recent press release President 

and Chief Executive Officer of Alcan Packaging Christel Bories said that the company’s “major 

tobacco customers are investing heavily in South-East Asia and it is important for us to grow our 

local manufacturing presence to better serve their needs.”30 

 

 

2.3 Alcan and taxes 

Companies like Alcan are always looking for ways to avoid paying taxes. One way to do this is to 

incorporate subsidiaries inside countries where the company pays little or no taxes. Countries like 

this are known as ‘tax havens’. Leo-Paul Lauzon, who recently published a study on Alcan’s tax 

payment history, says that over 200 Alcan subsidiaries are incorporated in tax havens.31 He says 

that by incorporating subsidiaries in tax-havens Alcan is transferring its profits offshore where the 

company does not have to pay income taxes. If Alcan incorporates a subsidiary in a foreign 

country with little or no income taxes, the subsidiary does not have to pay taxes. Alcan is 

therefore legally allowed to become incorporated in a low-tax country, obtain a mailing address 

and avoid paying taxes on foreign income. In a recent study Lauzon found that Alcan paid no 

income tax between 1999 and 2003. Instead, he says that the company received $140 million in 

income tax returns. In addition, Lauzon found that Alcan has $1.5 billion in deferred income tax, 

                                                                                                                                                              

26 

 Alcan Investor Workshop, Alcan Packaging, Christel Bories. December 7th, 2004, 

http://www.alcan.com/web/publishing.nsf/AttachmentsByTitle/Investors- 

Presentations/$file/2004_Investor_Day_Presentation-Packaging_Final.pdf 

27 

 Alcan Investor Workshop, Alcan Packaging, Christel Bories. December 7th, 2004, 

http://www.alcan.com/web/publishing.nsf/AttachmentsByTitle/Investors- 

Presentations/$file/2004_Investor_Day_Presentation-Packaging_Final.pdf 

28 

 Alcan Investor Workshop, Alcan Packaging, Christel Bories. December 7th, 2004, 

http://www.alcan.com/web/publishing.nsf/AttachmentsByTitle/Investors- 

Presentations/$file/2004_Investor_Day_Presentation-Packaging_Final.pdf 

29 

 Alcan Investor Workshop, Alcan Packaging, Christel Bories. December 7th, 2004, 

http://www.alcan.com/web/publishing.nsf/AttachmentsByTitle/Investors- 

Presentations/$file/2004_Investor_Day_Presentation-Packaging_Final.pdf. 

30 

 “Alcan Acquires Tobacco Packaging Operation in Malaysia”, Alcan Press Release, April 18, 2005, 

http://www.alcan.com/web/publishing.nsf/Content/Alcan+Acquires+Tobacco+Packaging+Operation+In+Malaysia 

31 

 From May 2, 2005 interview on “The Current”, Canadian Brodcasting Corporation Radio One, 

http://www.cbc.ca/thecurrent/2005/200505/20050502.html 

 

 

 14 

which is similar to a permanent loan where Alcan pays no interest and will never have to pay.32 

Please see Appendix 2 on page 40 for a complete list of Alcan’s subsidiaries.  

 

2.4 Corporate Welfare 

 

Most of Alcan’s financial help from governments comes in the form of subsidized electricity rates. 

Some cases include: 

 

Kitimat – At Alcan’s operations in Kitimat, British Columbia, B.C. Hydro pays the water 

rental fees on the water the company uses to generate electricity at its Kemano 

hydroelectric dam.33 

Cameroon – Alcan’s electricity costs for their smelter in Cameroon are subsidized by 

local ratepayers. The smelter pays discounted prices for the electricity required for 

operation while local residents pay higher rates. This in a country where the vast majority 

of people do not have access to electricity. See the Social Profile below for details about 

Alcan’s Cameroonian operations. 

  

2.5 Restructuring 

 

As we flow into 2005, much more of the synergies will be coming from restructuring and people 

reductions. And in fact, of course, we have accounted for the social plan costs34 Dick Evans, 

Alcan Executive Vice President: 

 

In late 2004, Alcan announced restructuring efforts at nine European sites. Alcan 

committed to a plan to sell two high purity businesses in France. Alcan is actively 

pursuing potential purchasers and expects the sales to be completed by the end of 2005. 

The restructuring efforts also include the downsizing of four sites: Lafon in Italy, Kolin in 

the Czech Republic, Froges (pharmaceutical workshop) in France and Alcan Mass 

Transportation Systems (AMTS) business unit in Zurich, Switzerland, as well as three 

plant closures: Flemalle in Belgium, Cruseilles in France, and Garbagnate in Italy. The 

downsizing will result in cutting approximately 520 jobs in Europe (Alcan presently 

employs 46,000 people in Europe and said the cuts will be partially offset by the expected 

creation of 40 new jobs in France and Switzerland) 35.   

 

On August 19, 2004, Alcan announced a proposal to consolidate its U.K. aluminum sheet 

rolling activity at its plant in Rogerstone, Wales. Production ceased at the rolling mill in 

Falkrik, Scotland in December 2004 and the rolling mill is expected to close during the 

first quarter of 2005. Sixty-five employees were terminated as at December 31, 200436.  

 

 

2.6 Spinoff off Novelis 

 

On January 6, 2005, Alcan completed the spin-off of Novelis Inc. (Novelis) to its shareholders. 

Novelis consists of substantially all of the aluminum rolled products businesses held by Alcan 

prior to its 2003 acquisition of Pechiney, together with “some of Alcan’s alumina and primary 

metal-related businesses in Brazil, which are fully integrated with the rolled products operations 

                                                      

32 

 ibid 

33 

 Wozney, R., “Mayor’s Report”, March 14, 2005, 

http://www.city.kitimat.bc.ca/whatsnew/alcan_power_sales/mayor_messages/20050314_mayors_report.pdf 

34 

 Alcan Inc. Earnings Conference Call, FD (Fair Disclosure) Wire, February 8, 2005 

35 

 “Alcan  Reports Fourth Quarter Results,” Canada NewsWire, Tuesday, February  8, 2005 

36 

 “Alcan  Reports Fourth Quarter Results,” Canada NewsWire, Tuesday, February  8, 2005 

 

 

 15 

there, as well as four former Pechiney rolling facilities in Europe…”37 The spin-off makes 

beverage-can sheets and other products for companies like Coca-Cola Co.38 

 

 

2.7 Pechiney Hostile Take Over 

 

In December 2003, Alcan completed a $4.4 billion acquisition of Pechiney, the French Aluminum 

Group39. Alcan has absorbed Pechiney’s operations, and gained a significant foothold in the 

aeronautics industry (including supplying Airbus). Industry experts estimated that the merged 

group would see its share of the European market “exceed 70 per cent in some areas of 

production”. They calculate that it may attain “around 80 per cent of the European market for 

aluminium boxes, 60 per cent of the market for rolled products for the automotive sector, and a 40 

per cent share of European production of narrow strip products”.40 

 

 

2.8 Some of Alcan’s New or Planned Investments: 

 

May 2005: United States – In May 2005, Alcan signed an exclusive supply agreement with U.S. 

tobacco giant R.J. Reynolds Tobacco Company (RJR). Alcan will supply RJR Tobacco with 

printed tobacco packaging including folding cartons and labels. Alcan will build a new facility 

close to RJR Tobacco’s plant in Winston-Salem, North Carolina.41 

 

April 2005: Malaysia – Alcan acquired the tobacco packaging interests of CM Printing Sdn Bhd 

(CMP) in Malaysia. The move is a further step in Alcan’s strategy of establishing its packaging 

operations in emerging markets.42 

 

March 2005: China – Alcan purchased a packaging manufacturing site in the Suzhou region of 

China. The site will be equipped to produce plastic and aluminum packaging for make-up and 

personal care products for the company’s global customers and the local market. Production will 

begin by the end of 2005.43 

 

January 2005: Russia – In January 2005 Alcan announced that it will invest $55 million in 

Russia’s packaging market by building and equipping two new plants near Moscow and St. 

Petersburg. The Moscow plant will focus on flexible packaging for the confectionary and dairy 

markets and the St. Petersburg plant will produce tobacco packaging. A company press release 

stated that “these projects are a part of Alcan Packaging’s strategy to develop its geographic 

footprint in growing economies.”44 

 

                                                      

37 

 “Alcan  Reports Fourth Quarter Results,” Canada NewsWire, Tuesday, February  8, 2005 

38 

 “Alcan  tightens focus,” Cheryl Meyer, Daily Deal, Friday, December  24, 2004 

39 

 “Ratings Review: Dec. 10, 2003” Daily Deal/The Deal, Thursday, December  11, 2003 

40 

   “Pechiney Employees Warn Against Eu Haste In Decision On Takeover By Alcan  (Les Salaries De Pechiney Veulent 

Un Examen Approfondi De L’offre 

 D’alcan)” Global News Wire 

– Europe Intelligence Wire,  Le Monde,  Financial Times 

Information Limited, September  27, 2003  

41 

 “Alcan Secures Exclusive Tobacco Packaging Supply Agreement With R.J. Reynolds”, Alcan Press Release, May 2, 

2005, 

http://www.alcan.com/web/publishing.nsf/Content/Alcan+Secures+Exclusive+Tobacco+Packaging+Supply+Agreement+W 

ith+R.J.+Reynolds  

42 

 “Alcan Acquires Tobacco Packaging Operation in Malaysia”, Alcan Press Release, April 18, 2005, 

http://www.alcan.com/web/publishing.nsf/Content/Alcan+Acquires+Tobacco+Packaging+Operation+In+Malaysia 

43 

 “Alcan Purchases Manufacturing Site in China for Beauty and Personal Care Products”, Alcan press release, March 22, 

2005, 

http://www.alcan.com/web/publishing.nsf/Content/Alcan+Purchases+Manufacturing+Site+in+China+for+Beauty+and+Per 

sonal+Care+Products 

44 

 “Alcan To Invest US$55 Million In Growing Russian Packaging Market”, Alcan press release, January 1, 2005, 

http://www.alcan.com/web/publishing.nsf/Content/Alcan+To+Invest+US%2455+Million+In+Growing+Russian+Packaging+ 

Market 

 

 

 16 

September 2004: Australia – Alcan announced in September 2004 the expansion of the Gove 

aluminum refinery in Northern Australia. The $1.3 billion expansion would increase the refinery’s 

production by 30%.45 

 

June 2004: Oman – In June 2004 Alcan announced the signing of a Memorandum of 

Understanding with the Oman Oil Company (OOC) and with the Abu Dhabi Water and Electricity 

Authority (ADWEA) for a 20 percent equity interest in the development of a proposed aluminum 

smelter project in Sohar, Oman. The smelter would have a 330 kiloton per year capacity. 

Construction is expected to begin in the second half of 2005 and be operational by the end of 

2007. 46   

 

June 2004: South Africa – On June 29, 2004, Alcan announced that “Alcan officials and a South 

Africa delegation are continuing to examine the best value-creating alternatives offered by the 

aluminum smelter project originally proposed by Pechiney in Coega, South Africa.”47 

 

May 2004: Guinea – In May 2004 the world’s largest aluminum producers, Alcan and Alcoa, 

signed a memorandum of understanding with the Guinean government to build a 1.5 million 

tonnes per year alumina refinery. Alcan holds a 43% interest in Halco Mining Inc, Its joint venture 

with Alcoa, which owns 51% of the Guinean mining company Compagnie de Bauxites de Guinea 

(CBG). The remaining 49% of CBG is owned by the government of Guinea. CBG has exclusive 

rights through 2038 to Guinea’s bauxite reserves and resources in a 10,000 mile area in the 

northwestern part of the country. CBG’s open pit mine operations in Guinea constitute the biggest 

bauxite mining complex in the world.48 

 

March 2004: China – On March 10, 2004, Alcan announced it had secured the necessary 

regulatory and government approvals to move forward with the definitive joint venture agreement 

with Qingtongxia Aluminum Company and the Ningxia Electric Power Development and 

Investment Co. Ltd. In the Agreement, Alcan will invest up to “$150 million for a 50% participation 

and a secure power supply in an existing 150 000 tonnes modern pre-bake smelter located in the 

Ningxia autonomous region in China”. The agreement also includes giving Alcan a “substantial 

operating role and the option to acquire, through additional investment, up to 90% of a new 250 

000-tonne potline already under construction.”49 

 

2004: Ghana – Alcan currently operates a bauxite mine in Awaso, Ghana through the Ghana 

Bauxite Company50. In 2004, Alcan bought the remaining 35% shares in the Ghana Bauxite 

Company from the Ghanan Government.51  

 

October 2003: Malaysia – On 8 October 2003, Alcan announced that it had increased its 

ownership position in the Aluminium company of Malaysia (ALCOM) from 36% to 59%. At the 

time, Alcom employed 360 people at its Bukit Raja operation near Kuala Lumpur.52 

 

 

2.9 Recent Acquisitions (excluding Pechiney) 

 

                                                      

45 

 Alcan Investor Report: Bauxite and Alumina, Micheal Hanley, December 7th, 2005. 

46 

 “Adwea In $ 2b Oman Smelter Deal” Global News Wire – Asia Africa Intelligence Wire,  Financial Times Information, Al 

Nisr Publishing LLC, February  24, 2005  

47 

 Alcan Report to the Securities and Exchange Commission – Form 10-Q, For the quarterly period ended September 30, 

2004.  p.9. 

48 

“Commodities: Market Review: Aluminium – Guinea”, Global News Wire – Asia Africa Intelligence Wire Copyright 2004,  

Financial Times Information,  Africa Research Bulletin (ARBE), November  16, 2004.  

49 

 Alcan Report to the Securities and Exchange Commission – Form 10-Q, For the quarterly period ended September 30, 

2004.  p.9. 

50 

 Alcan Inc. 2003 Annual Report.  

51 

 “Ghana: Economy Turned Around?” Global News Wire – Asia Africa Intelligence Wire, Financial Times Information, 

Blackwell Publishers Ltd, Africa Research Bulletin (ARBE), November 16, 2004. 

52 

 Alcan Report to the Securities and Exchange Commission – Form 10-K, For the fiscal year ended 31 December 2003.  

p.9 

 

 

 17 

On March 5, 2003, Alcan Inc. announced that it had entered into agreements to acquire 

Baltek Corporation, the world’s leading s 

upplier of balsa-based structural core materials, 

for approximately $35 million.53 Alcan’s 2004 Annual Report cites that this transaction 

cost $38 million.54 

On September 25, 2003, Alcan announced that it had agreed to acquire the 

Uniwood/Fome-Cor Division of Nevamar for US$95 million (Uniwood/Fome-Cor was one 

of the largest U.S.-based manufacturers of foam-based display boards).55 

In April 2003, Alcan acquired VAW Flexible Packaging (FlexPac) from Norsk Hydro at a 

cost of $302 million.56 FlexPac included 14 plants in 8 countries and 5,400 employees. As 

a result of acquiring Flexpac, Alcan also acquired 63% of the total issued share capital of 

Strongpack Plc in Thailand, and went on to acquire an additional 12% of Strongpack in 

June 2003.57 

In September 2002, Alcan acquired a 40% ownership in the Aluminerie Alouette 

consortium.58  

 

2.10 Investment in unconsolidated affiliates (Joint ventures)59 

 

Sor-Norge Aluminium AS (50%) 

Aluminium Norf GmbH (50%) 

Consortium Strojmetal A.S. Kamenice & Alcan Singen GmbH (50%) 

Rhenaroll S.A. (50%) 

Halco (Mining) Inc. (45%) 

Queensland Alumina Limited (41%) 

Alcan Propack Chengdu Co. Ltd. (26%) 

Mineracao Rio Do Norte S.A. (13%) 

Petrocoque S.A. – Industria E Comercio (25%) 

Pechiney Reynolds Quebec Inc. (50%) 

Alucam – Compagnie Camerounaise de l’Aluminum (46.67%) 

Socatral – Societe Camerounaise de Transformation de l’Aluminium (29.96%) 

Airlessystems (50%)  

Alcan Ningxia Aluminium Company Limited (50%)  

Euronorca Partners (50%) 

 

 

2.11 Main Advertising Firms 

 

Cossette Communications Group – Group members Optimum Public Relations and Fusion 

Alliance Marketing list Alcan as a major client. Cossette’s other clients include Bell Canada, 

Coca-Cola Ltd., General Motors of Canada, The Home Depot, McDonald’s Restaurants of 

Canada, Memorial Sloan-Kettering Cancer Center, MasterCard, Molson Breweries, Nike Canada, 

Petro-Canada, The Phoenix Company, Shoppers Drug Mart/Pharmaprix and TD Waterhouse 

Inc.60  

 

                                                      

53 

 “Alcan  Inc – Acquisition of Baltek Corp.” Company News Feed formerly Regulatory News Service ,AFX News Limited,  

Thursday, March  6, 2003  

54 

 Alcan Inc 2004 Annual report, p. 41 

55 

“Alcan  Inc – Growth cont. with acq.Uniwood” Company News Feed formerly Regulatory News Service AFX News 

Limited, September 25, 2003 

56 

 Alcan Inc 2004 Annual Report, p. 41 

57 

 Alcan Inc 2004 Annual Report, p. 83 

58 

 Alcan Inc 2004 Annual Report, p. 85 

59 

 Alcan’s 2004 Annual Report P. 77 

60 

 “Cossette Communication Group Acquires Majority Stake in Award-winning U.S. Public Relations Firm PainePR”, 

Canada NewsWire Ltd.  Monday, October  4, 2004 

 

 

 18 

Marketexplorers has completed marketing research for Alcan (other customers include RBC 

Royal bank, Shaw Cable, Western Canada Lotteries, The Insurance Corporation of B.C. and The 

Future Shop).61  

 

Strawberry Creative Agency, a London based marketing company, cites Alcan as one of its 

customers. Its other customers include Fujitsu, BMW, HSBC Bank, Motorola, Pharma Marketing 

Academy, and Umbro.62  

 

Smith and Haroff, a public relations (including political/lobbying issues) firm based in the US, 

has worked with Alcan.63  

 

LVBA Communications created an “Alcan Good Citizen Guide” in 2000, and highlighted 

corporate social responsibility in Brazil.64  

 

Low & Associates Inc., A Washington-area Public Relations Firm, has been linked to Alcan65.  

 

Tecsult, A Quebec Engineering firm, managed a public-participation program associated with the 

implementation of an Alcan aluminum smelter in Alma (Quebec)66

 

Alcan has been a client of Public Relations Partners, a firm based out of Cleveland67.  

 

 

2.12 Marketing Strategies 

 

According to an investor’s meeting with Merrill Lynch in December 2004, Alcan’s management is 

targeting a 35% debt to total equity ratio68, and is planning to double the value of the company 

every five years.69 “Merrill Lynch said Alcan is counting on a further upturn in the Business cycle 

by remaining in high-margin upstream businesses (alumina and aluminum) and in high-margin 

downstream markets (aerospace and exterior auto sheet applications), which are capital- 

intensive”70. With its spin-of of Novelis, Alcan is further focusing on “its bauxite and alumina, 

primary aluminum and high-growth packaging and engineered products businesses”71

According to Merrill Lynch, “Alcan continues to restructure its portfolio assets by 

closing/consolidating facilities, including workforce reduction, and investing on the primary side 

where there exist power and raw material advantages”72. Merrill Lynch is looking for Alcan to seek 

“upstream growth” through “greenfield and brownfield73 expansions”, following an investor 

meeting with Alcan in December, 200474. Alcan Packaging has stated the goal of changing their 

“geographical footprint” and building a “significant presence in Eastern Europe, Russia, China, 

                                                      

61 

 “Survey shows overwhelming Canadian Support for bid to host 2010 Winter Olympic and Paralympic Games”, PR 

Newsire Europe, Monday, February 24, 2003 

62 

 Strawberry Media Portfolio, Available from: http://www.strawberrymedia.com/2005.3/english/contact.asp, accessed on 

March 21, 2005 

63 

 Smith and Haroff website, Available from: http://www.smithharroff.com/clients_corporate.htm, accesed on March 21, 

2005 

64 

 LVBA website. Available from: http://www.lvba.com.br/english/cases/case_alcan06.html, accessed on March 21st, 2005 

65 

 “Largest Public Relations Firms In The Metro Area”, Available from:  http://www.bivings.com/news/ranking1999.html, 

accessed on March 21, 2005 

66 

 “Tecsult Communications”, Available from: 

http://www.tecsult.com/Page/Anglais/Secteurs/Economie/Communication.htm, accessed on March 21, 2005 

67 

 “PRP Firm Profile 2004”, Available from: http://www.prpartners.com/Documents/PRPProfile.pdf, accessed on March 21, 2005 

68 

 This ratios indicates how much the company is leveraged (in debt) by comparing what is owed to what is owned. A high 

debt to equity ration could indicate that the company may be over-leveraged, and should look for ways to reduce its debt. 

69 

 “Alcan  to seek upstream growth…”  Metals Week, The McGraw-Hill Companies, December  13, 2004 

70 

  “Analyst views mixed on benefits of  Alcan rolled spin-off”  Metals Week,  The McGraw-Hill Companies, Inc., May  24, 

2004 

71 

 “Alcan  tightens focus,” Cheryl Meyer, Daily Deal, Friday, December  24, 2004 

72 

 “Alcan  to seek upstream growth…”  Metals Week, The McGraw-Hill Companies, December  13, 2004 

73 

 A brownfield expansion is an investment that provides incremental capacity to an existing smelter. A Greenfield 

expansion is one that involves investment in building a new plant. Alcan Inc. 2004 Annual Report, p. 114 

74 

 “Alcan  to seek upstream growth…”  Metals Week, The McGraw-Hill Companies, December  13, 2004 

 

 

 19 

select Southeast Asian countries, Mexico and Brazil”75. Alcan’s language in investor workshops 

focuses on “geographic expansion in eastern Europe and China”, “innovation” and “portfolio 

enrichment through acquisitions and divestments”76.  

 

 

2.13 Alcan’s major competitors 

 

Primary Metal and Bauxite and Alumina:  

Alcoa (based out of USA),  

Rusal and Sual (based out of Russia),  

GAPCO (Japan) 

 

Alcan Packaging77:  

 

Food Flexible: 

Europe: Amcor, Sealed Air, Constantia, Huhtamaki 

Americas: Bemix, Sealed Air, Winpack, Printpack 

Asia: Dai Nippon, “Locals” 

 

Pharmaceutical: 

Flexibles: Constantia, Amcor 

NA Plastics: Owens, Druf Plastics 

Glass Tubing: Schott, Gerresheimer 

Medical Flexible: Amcor, Bemis 

 

Beauty: 

Tubes: Tupack, Betts, Essel 

Rexam, Risdom, Alpla 

 

Tobacco: 

Europe: Amcor, Field, Westvaco, Mayr Melnhof 

Americas: IP Shorewood, RJR 

Asia: Amcor 

 

Alcan Aerospace78

Alcoa 

Corus 

 

Alcan Composites79

Alcoa 

Reynolds 

Mitsubishi (in the Asia/Pacific Region)  

 

 

 

 

                                                      

75 

 Alcan Investor Workshop, Alcan Packaging, Christel Bories. December 7th, 2004 

76 

 Alcan Investor Workshop: Alcan Engineered Products, Michel Jacques,  December 7th, 2004 

77 

 Alcan Investor Workshop, Alcan Packaging, Christel Bories. December 7th, 2004  

78 

 Alcan Investor Workshop: Alcan Engineered Products, Michel Jacques,  December 7th, 2004 

79 

 Alcan Investor Workshop: Alcan Engineered Products, Michel Jacques,  December 7th, 2004 

 

 

 

 20 

3. Political Profile 

 

 

3.1 Political Connections 

 

Travis Engen, President, CEO and Director, Alcan – Engen is a former member of United 

States Defense Secretary Donald Rumsfeld’s Defense Business Board. Rumsfeld set up the 

Board, which consists of twenty business executives, to provide the Defense Department with 

advice on management improvements in the interests of the Department of Defense. The 

objective of the Board is to enhance the effectiveness of organizational support to the United 

States’ military. 

 

Daniel Gagnier, Senior Vice President, Corporate External Affairs, Alcan – Gagnier has held 

a number of positions with the Government of the Province of Saskatchewan and the Federal 

Government of Canada. From 1972 to 1982 Gagnier occupied various diplomatic positions with 

Canada’s Department of External Affairs in Mexico, the United Kingdom, Yugoslavia and Ottawa. 

Between 1982 and 1984 he was the executive director of the Canadian Unity Information Office, 

part of the federal Department of Justice, following which he was appointed by the Privy Council 

Office as assistant secretary to the Cabinet (Communications). In 1985, Mr. Gagnier joined the 

Saskatchewan Government as deputy minister, economic development and trade, a position he 

held until 1987. 80 

 

Brenda Pulley, Vice President, Government Affairs, Alcan Aluminum Corporation (Alcan’s 

U.S. subsidiary) – Prior to joining Alcan Pulley served as Legislative Assistant to Ike Skelton, 

member of Congress from Missouri. She has also worked as Legislative Assistant for the U.S. 

House of Representatives Subcommittee on Small Business.  

 

Onno Ruding, Member of Alcan’s Board of Directors since 2004 – Ruding is a former 

Minister of Finance of the Netherlands and formerly worked as an Executive Director of the 

International Monetary Fund (IMF). 

 

 

3.2 Big business associations 

 

Alcan is a member of the following industry associations. The company’s affiliation with these 

lobby groups provides them with the ability to influence policy makers in Canada, the United 

States and around the world. In addition to the groups listed below, Alcan is a member of industry 

associations in the packaging industry. 

 

Aluminum Association81 – The Aluminum Association is a lobby group that represents the 

interests of the primary producers of aluminum, aluminum recyclers and producers of fabricated 

products. Amongst other things, this group lobbies the United States Government on behalf of the 

aluminum industry to keep energy prices for aluminum producers low. 

 

Aluminium Association of Canada82 – The Aluminum Association of Canada (AAC) represents 

the interests of the Canadian aluminum industry. The AAC is made up of three member 

companies: Alcan, Alcoa and Alumineries Alouette Inc.  

 

Aluminum Federation Ltd.83 (ALFED) – The Aluminum Federation represents the interests of 

the UK aluminum industry. Its mission is to promote the interests of its members and to expand 

                                                      

80 

 Standards Council of Canada, of which Daniel Gagnier is Chairman. 

http://www.scc.ca/en/about/governance/council/councilmemberdetails_16.shtml 

81 

 http://www.aluminum.org/ 

82 

 http://aac.aluminium.qc.ca/anglais/ 

83 

 http://www.alfed.org/xpor/home 

 

 

 21 

the market for aluminum products in the UK. The Aluminium Federation has a very strong 

influence among dozens of members of the British parliament, with whom they interact on a 

regular basis regarding issues concerning the aluminum industry in the UK. In 2001, the group 

managed to withdraw a climate change levy that was imposed on aluminum producers by the 

British Government (starkly contradicting Alcan’s position on lowering emissions). They pursued 

the matter by lobbying members of parliament. David Harris commented on this lobby effort 

saying that the “government has understood our point of view and later withdrew the levy.”84 

Alcan Smelting & Power UK’s W.E. Jones serves as Vice President on Alfed’s Council.   

 

Canadian Council of Chief Executives (CCCE) – Alcan CEO Travis Engen is a member of the 

CCCE, he is also one of the group’s directors. The CCCE is Canada’s largest and most powerful 

business lobby group. It lobbies for the interests of its membership made up of Canada’s largest 

corporations many of which are subsidiaries of foreign multinationals. Headed by Thomas 

D’aquino and formerly known as the Business Council on National Issues (BCNI), the CCCE 

played a key role in spearheading the original free trade agreement between Canada and the 

United States. Recently the CCCE has been pushing for even greater economic integration with 

the United States through its North American Security and Prosperity Initiative (NASPI), a five 

point plan of action to secure the free movement of goods, capital and services across borders. 

Through their membership in the CCCE, Alcan has access to the highest level of policy makers in 

the Canadian Government. 

Canadian Manufactures and Exporters (CME)85 – The CME is the leading business network in 

Canada, representing 90% of Canada’s Exports and 75% of manufacturing. They are the main 

business lobby pushing of the FTAA and the WTO in Canada, including the General Agreement 

on Trade in Services (GATS) agenda. They advocate for government to set an agenda that is 

“business friendly” (i.e. ripe for corporate profits). They offer their members “meetings”, 

“friendships”, and “incredible access” to top government officials. Daniel Gagnier, Alcan’s Senior 

VP for corporate and external affairs, is the Chair of the CME.86  

European Aluminium Associations (EAA)87 – The EAA is a lobby group that represents the 

interests of the Aluminum industry in Europe. Its membership is made up of corporations, national 

associations, the Organisation of European Aluminium Smelters and Refineries and the 

European Aluminum Foil Association. The EAA’s objective is to help the aluminum industry grow 

in European markets and to maintain and improve the image of the industry. In February 2005 the 

EEA began lobbying the European Union to act on high energy prices.88 

 

International Aluminum Institute (IAI)89 – The IAI is the global forum of aluminum producers. It 

promotes the wider use of aluminum worldwide. Alcan CEO Travis Engen is the IAI’s Chairman. 

Over the past four years the IAI has been publishing studies and reports designed to construct an 

environmentally friendly profile of the aluminum industry.  

 

United Nations Global Compact – Alcan became a participant of the United Nations Global 

Compact in 2004. The Global Compact is an agreement based on ten principles of human rights, 

environmental protection, labour rights and corruption designed to promote ‘responsible corporate 

citizenship’.90 The Global Compact is a voluntary initiative which is not defined as a binding set of 

regulations nor as a code of conduct for companies. UN Secretary General Kofi Annan defines 

the Global Compact as a dialogue forum to promote mutual learning among corporations. To 

become members of the Global Compact, a corporation’s CEO must send a letter to Secretary 

                                                      

84 

 “Gulf should form regional aluminium body”, Gulf News, November 14, 2001 

85 

 The CME’s website is, http://www.cme-mec.ca/ 

86 

 For more information on the CME visit the Polaris Institute’s website, 

http://www.polarisinstitute.org/polaris_project/public_service/lobby_cartels/CME.htm 

87 

 http://www.eaa.net/ 

88 

 Hollinger, P., “Alcan’s Europe smelters hurt by energy costs”, The Financial Times, April 18, 2005 

 

89 

 http://www.world-aluminium.org 

90 

 United Nations Global Compact Website, http://www.unglobalcompact.org/Portal/Default.asp? 

 

 

 22 

General Kofi Annan expressing support for the Compact and its principles, set in motion changes 

to business operations so that the Compact will become part of the company’s business strategy, 

culture and day-to-day operations. Compact members are also expected to publicly advocate the 

Global Compact through press releases and speeches. In a statement released by EarthRights 

International in June 2004 in response to the UN’s Global Compact Leaders’ Summit, the group 

said that the Global Compact “cannot adequately address corporations’ negative social and 

environmental impact…[it] distracts Governments and the UN from necessary steps to establish 

an effective intergovernmental framework on corporate accountability…[it] provides little but a 

public relations cover for global corporate malefactors.”91 

World Business Council for Sustainable Development (WBCSD) – The WBCSD is a coalition 

of 170 international companies who claim to be committed to sustainable development through 

“economic growth, ecological balance and social progress”. Alcan CEO Travis Engen sits on the 

WBCSD’s Executive Committee. The WBCSD’s mission is to “provide business leadership as a 

catalyst for change toward sustainable development, and to promote the role of eco-efficiency, 

innovation and corporate social responsibility”. The WBCSD is a notorious “greenwasher”, 

responsible for presenting itself and its members as environmentally friendly and compassionate. 

It sees large corporations as the best avenue for ‘sustainable development’ and believes that 

companies like Alcan should be the leaders in meeting the United Nations’ Millennium 

Development Goals (MDGs). The WBCSD is a strong advocate for public-private partnerships. 

The group’s membership boasts such environmentally and socially responsible corporations as, 

British Petroleum, The Coca-Cola Company, Chevron/Texaco, Shell and Suez.92 

World Economic Forum (WEF) – Alcan CEO Travis Engen chairs the World Economic Forum’s 

(WEF) Water Initiative. The WEF’s Water Initiative is designed to facilitate corporate involvement 

in water resources management and promotes market based strategies for water management 

for the benefit of the private sector. Through Engen’s involvement with the water initiative, Alcan 

is contributing to the WEF in its mission to advance neoliberal economic policies and the interests 

of its members made up of the world’s largest corporations. Two thousand political, business and 

academic elites meet in Davos Switzerland for the WEF’s annual meetings. The WEF takes credit 

for launching the Uruguay Round of the General Agreement on Trade and Tariffs which led to the 

creation of the World Trade Organization.93  

 

 

 

 

 

                                                      

91 

 “Joint civil society statement on the Global Compact and corporate accountability”, June 23, 2004, 

http://www.earthrights.org/news/ngogcstatement.shtml 

92 

 the World Business Council for Sustainable Development’s 2004 Annual Report, 

http://www.wbcsd.ch/web/publications/ar2004.pdf 

93 

 New Internationalist Magazine, “The Naked Lobbyist”, New Internationalist, No. 347, July 2002 

 

 

 23 

4. Social Profile 

 

4.1 Social track record 

 

This section exposes how Alcan has had major problems in a number of their operations around 

the world.   

 

4.1.1 India94 

 

“Alcan is pleased to be collaborating with Hindalco on this Project as, like Alcan, the Aditya Birla 

group is driven by a Corporate Social Responsibility (CSR) perspective and a performance ethic 

pegged on value creation for its multiple stakeholders…Alcan has a successful track record for 

such joint ventures (including in Australia, Brazil [see section below] and Africa) based on its 

global experience of working in more than 55 countries and regions. As for Utkal, the 

partners…share the same commitment to moving forward with a Project that is economically, 

socially and environmentally sustainable well into the future.”95 

 

Alcan has had operations in India since 1938. The company’s latest project in India in the eastern 

state of Orissa – a joint venture project with Indian corporation Hindalco – has had major 

problems since its beginning in 1993. This section provides a look at the main timelines and 

players involved in Alcan’s operations in Orissa. The final section on ongoing resistance 

campaigns against Alcan’s involvement provides an important resource for those interested in 

joining the struggle to get Alcan out of India, or for those looking for more information on the 

controversy surrounding the company’s operations in the country.  

 

Kashipur block in the Rayagada district of Orissa contains one of the largest deposits of bauxite 

ores in the world. For a company that relies on cheap and abundant sources of bauxite for their 

overall operations, the deposits in India are incredibly desirable. In 1993, a consortium of private 

companies, collectively known as UAIL (Utkal Alumina International Ltd), was formed to initiate a 

project to extract these ores and produce alumina. UAIL was initiated as a joint venture between 

Indal (India), Tata Industries (India), Norsk Hydro (Norway) and Alcan (Canada).96 The project, 

which is slated for an area chiefly occupied by Adivasis (indigenous people of India), will lead to 

large scale displacement and loss of livelihood for the local population. The project, part of a 

broader program of industrialization in the state, will also result in massive environmental 

degradation. The people of Kashipur have opposed the project since its inception and their ten 

year struggle against the project culminated in deadly violence when police fired on a crowd of 

unarmed protesters killing three people.  

 

The local population and opponents to the project say that India’s constitution and Supreme Court 

rulings protect tribal areas from being expropriated by corporations. The state government, 

however, claimed the land as theirs and then handed the concession to Utkal Alumina 

International Ltd. (UAIL) Alcan, meanwhile, has consistently painted a picture of an accepting and 

gracious local population eager for the project to go ahead. Alcan has also been successful in 

hiding behind its rhetoric on corporate social responsibility and sustainable development in order 

to gloss over its participation in this destructive project.97 

 

 

                                                      

94 

 The information in this section is taken directly from the Alcan’t in India Campaign website, 

http://www.saanet.org/alcant/context.htm#details 

95 

 Please see Alcan’s recently posted Frequently Asked Questions and Powerpoint Presentation dealing with the project 

on their website for details: http://www.alcan.com/web/publishing.nsf/Content/Joint+Venture+in+Orissa 

96 

 See the Organizational Profile for more details regarding Alcan’s financial interest in the project. 

97 

 Please see Alcan’s recently posted Frequently Asked Questions and Powerpoint Presentation dealing with the project 

on their website for details: http://www.alcan.com/web/publishing.nsf/Content/Joint+Venture+in+Orissa 

 

 

 24 

 Alcan’s operations in India since 1938 

 

The following is a time-line of Alcan’s various projects in India and their percentage ownership: 

 

1938 – Alcan becomes a 50.5% owner of the Indian Aluminium Company, Limited (Indal). From 1938 until 1979 Indal was 

responsible for: starting a sheet mill at Belur; building India’s first smelter at Alupram; building an aluminum refinery at 

Alupram; building a smelter at Hirakud; building a foil mill at Kalwa; building a smelter and alumina refinery at Belagaum; 

building a sheet mill at Taloja; purchased a powder and paste plant at Kalwa; starting research laboratories at Belgaum 

and Taloja. 

 

1987 – Alcan reduces its equity in Indal from 50.5% to 39.6%. 

 

1992 – Alcan, Indal and Tata sign a memorandum of understanding for the Utkal Project’s joint feasibility study. The 

project plans to build a bauxite mine and refinery in India’s Orissa Province. At this point Alcan was not an equity partner 

in the project. 

 

1994 – Alcan reduced its equity in Indal to 34.6%. Norsk Hydro joins the Utkal Project as an equity partner. 

 

1995 – Alcan joins the Utkal Project as an equity partner (Indal 20%, Tata 20%, Norsk Hydro 40% and Alcan 20%) 

 

1998 – Tata leaves the Utkal Project and Alcan increases its equity to 35%. Later that year Alcan increased its equity in 

Indal from 34.6% to 54.6%. 

 

2000 – Alcan sells its entire 54.6% stake in Indal to Indian giant Aditya Birla Group’s Hindalco Industries Limited. 

 

2003 – Norsk Hydro leaves the Utkal Project after heavy pressure from Norwegian civil society groups. Aditya Birla 

Group/Indal now owns a controlling 55% in the Utkal Project. Alcan increases its stake from 35% to 45%. 

 

2005 – Indal and Hindalco merge, thus Hindalco (Aditya Birla Group) owns a 55% interest in the Utkal Project. 

 

Police repression 

 

On December 16, 2000, armed police entered the village of Maikanch during a meeting of

villagers opposed to the mine, and opened fire. Three people died and 8 others were injured

during the attack. That day approximately 4000 people from 15 villages were holding a meeting in

Maikanch to plan a roadblock for December 20. Two platoons of police arrived at the meeting

scaring most of the terrified villagers into the surrounding hills. The few women that stayed behind

were informed by the police that they were there with orders to fire saying that they would not

spare the remaining women and their children if they did not ask the male villagers to return to the

village. During the incident a 55 year old woman was assaulted by the police. Hearing the uproar

the men returned from the hills and were immediately met with gunfire from the police. The police

and the regional police claimed that they had been attacked by the villagers forcing the police to

open fire.98

The killings triggered a judicial inquiry that drove Alcan to declare a moratorium on the mine.

Three years later the judicial inquiry gave Alcan the green light to proceed with the project despite

finding that there was an excessive use of police force and insufficient resettlement aid for the

Adivasis. The inquiry said that the project should go ahead concluding that the local population

“cannot afford to remain backward for the sake of so-called environmental protection.”99

Police repression continued in late 2004 when community members who were protesting the

construction of police barracks. On December 2nd 2004, approximately 150 people – primarily

women – were sitting and protesting near the spot where the foundation for the barracks had

been dug. The police, who numbered between 500 and 600, ordered the protesters to disperse

so that a local politician could inaugurate the construction. The protesters refused to leave and

98 

 “Tribal people in India confront Alcan investment: three die”, MiningWatch Canada, January 17, 2001,

http://www.miningwatch.ca/publications/Utkal_UA.html

99 

 Regg Cohn, M., “Indian villagers set to battle Alcan”, Toronto Star, July 3, 2004

 25

were subsequently fired upon with teargas and then charged by the police who proceeded to beat

the villagers with sticks. A number of people were injured.100

A December 3rd 2004 report from Independent Media states that “District Administration and

police have unleashed a reign of terror in the Kashipur area.”101 Since the December 2nd incident

the entire proposed project area had been sealed off by the administration and the police and no

media or outsiders were allowed to enter the villages that would be affected by the project. Police

have also reportedly resorted to indiscriminate violence against adivsis in the area.102

On December 16, 2004, the anniversary of the 2000 killings, a number of local politicians and

elected members of the state of Orissa legislation were arrested. Journalists accompanying the

delegation were beaten up and one person’s video camera was taken.103 Repression and

silencing of the media has continued in the area since the beginning of the year. In one case in

May 2005, an Indian filmmaker was roughed up by police while filming a peaceful demonstration

against the project in Tikiri (eastern Kashipur region). The filmmaker was filming a roadblock

when a number of police rushed him and attempted to take his camera from him. After seizing the

camera the police threw in on the ground and kicked it to pieces.104

Why is the project harmful for the people?

Displacement and loss of livelihood: The people of Kashipur have been farming their land for

centuries. Depriving them of their land would make them destitute since they do not have any

other avenue for earning a living. Tens of thousands of people will be displaced by this project. If

it goes ahead it will completely wipe out a self-sustained community.

Facts on displacement: Adivasis constitute less than 8% of India’s population but account for

more than 40% of India’s displaced. Conservative estimates place the number of people

displaced by “development” projects in India (since 1947) to 33 million. Approximately 1.4 million

people have been displaced by such development projects in Orissa since 1947. Mining projects

in Orissa have displaced 50,000 people and new projects are expected to displace at least

another 100,000 people.

Loss of indigenous culture: The community would be splintered and leading to a loss of

indigenous culture. The loss of community would also lead to increased insecurity for women and

children. The people will lose Baphlimali hill to the mining project, which is sacred to the people

since they believe it to be the abode of the goddess Baphlimali.

Environmental impact

The bauxite mining technique proposed in Kashipur is extremely harmful for the environment.

Effluent discharge – a by-product of bauxite refining is red mud – will be disposed of using red

mud stacking in an enclosed area giving rise to at least 125 tons of caustic soda a day. The

waste will be dumped into two streams that are the major key sources of water for the villages in

the surrounding area. Such large amount of alkaline deposit will raise the pH of the water, making

it unfit for consumption. Agriculture and aquatic life downstream will be severely affected.105

100 

 Huika, B., “Behind firing at Kashipur again” Independent Media, December 3, 2004,

http://prod.india.indymedia.org/en//2004/12/209923.shtml

101 

 “Reign of terror in Kashipur: People pay the price as the CM wants to inaugurate UAIL plant in January, 2005”,

Independent Media, December 3, 2004

102 

 “Kashipur: Industrialization through the barrel of a gun”, Independent Media, January 31, 2005,

http://prod.india.indymedia.org/en//2005/01/210041.shtml

103 

 ibid

104 

 “Reporters Without Borders criticises assault on filmmaker”, Indo-Asian News Service, June 3, 2005

105 

 Refer to http://www.saanet.org/kashipur/images/lake.jpg for an image of a waterbody polluted by the NALCO mining

project in the vicinity of Kashipur 

 26

Ash disposal from power generation – In order to generate the enormous amount of power

needed for the project coal fired power generators will require 2800-3000 tons of coal per day.

This is expected to generate 900-1000 tons of ash per day that will be dumped into an ash

pond.106

Overburden dumping – According to the environmental clearance given by the government, the

company does not have to take care of overburden dumping for the first five years. It is expected

that the overburden will be dumped on the slopes of the mined area leading to siltation of

streams, damage of slopes and cultivable lands.

Violation of fundamental rights – The fifth schedule of the Indian constitution guarantees the

rights of indigenous people over their natural resources and land. The adivasis will lose land that

belongs to them according to the Indian constitution.

No tangible benefits for the people – This is a 100% export-oriented mining project. All the

alumina produced will be exported since India is self sufficient in its aluminium production. There

are no plans for Kashipur after the mining is over.

Timeline of Important Events

 

1993 

Utkal Alumina Industries Ltd. (UAIL) established to exploit bauxite reserves in Kashipur region of Orissa, India.

2000  

December 16: Three villagers killed by state police who opened fire on a crowd following a meeting of the anti-mining

movement the previous day.

December 29: Inter-village council (Gram Sabha) convened where elected officials from 22 of the 24 “officially project

affected” villages pass resolution opposing the mine.

2001  

Early January: 10,000 local people gather in Kashipur and proclaim, “We are not afraid to die, we will not leave our land

[for this bauxite project].”

January 20: Orissa Government initiates Judicial inquiry to investigate shootings, UAIL project construction delayed until

release and approval of judicial enquiry.

December 17: Lead investor Norsk Hydro decides to divest its share from the project. Alcan eventually takes over a

portion of Norsk’s investment in 2003, giving Alcan a total 45% share and Indal (Alcan’s former Indian subsidiary) holding

the remaining 55%.

2003 

October 16: Press leak reports that Orissa Government approves the findings of the inquiry into killings and gives

company go ahead. Extract from the summary: “[The] Commission has expressed its doubt about the stated purpose of

the visit of Police force to Maikanch on 16th December, 2000, that it was to maintain law and order… excessive force was

used in that as many as 19 rounds were fired.”

November 5: Hindu Business Line: Indal CEO Dr. S.K Tamotia “hopeful that it’s ongoing…alumina project in Orissa will

be completed without further delay.”

2004  

April 14th: In a Economic Times article, “ Officials in the Orissa government confirmed that Utkal Alumina International

(UAIL) has started rehabilitation and resettlement work at the plant and mining sites.”

October 19th: A 5,000 strong demonstration is held in Orissa, by the people’s movement against UAIL, demanding once

more that the project be cancelled altogether.

November 25th: Chief Minister (head of state) of Orissa, Shri Naveen Patnaik, gives clear instructions to state

bureaucrats and police superintendents that all anti-mining movements must be firmly suppressed.

December 1st: 500 armed police enter the village of Karal to inaugurate the construction of an access road and police

barracks in preparation for mining activities. Hundreds of indigenous people who gather to protest this activity are tear- 

gassed and 16 of them are critically injured when police attack them with batons. In the following days, hundreds of police

are deployed into the area, arresting people indiscriminately and sealing the area off from media and outsiders.

2005 

106 

 Refer to http://www.saanet.org/kashipur/images/pond.jpg for image of the ash pond at the NALCO mining project near

Kashipur

 27

Mid-April: Alcan posts information regarding the project on their website, stating that the majority of the local population is

in favour of the project.

 

Status of the project

In spite of the repression, the people of Kashipur are steadfast in their opposition to the project.

Work on the project has not yet started, however the judicial enquiry into the killings of Dec 16,

2000, clearing the company and the government gives them latitude to go ahead with the project.

As of mid-April 2005, Alcan’s position on the go-ahead of the project is as follows: “The Utkal

Project is a very attractive opportunity for Alcan but it is still in a development phase- a Technical

Review is currently underway, which will then lead to a Definitive Feasibility Study and thereafter,

Construction Authorization within an approximate twelve-to-fifteen month period. In parallel, the

partners are dedicating a lot of attention to other milestones such as securing the necessary

clearances, permits, approvals and support form the appropriate government authorities

wherever such clearances/approvals are required.”107

Ongoing campaigns opposing the project 

Apart from the groups in India who are campaigning to stop the project a few groups in Canada

and Norway are working to pressure Alcan to withdraw from the project. Some of the groups

include:

Alcan’t in India (http://saanet.org/alcant/) – Alcan’t in India is a solidarity group based in

Montreal, Quebec, Canada. It is aimed at supporting the residents of Kashipur in their struggle to

preserve power over the development of their land and resources. As a solidarity group Alcan’t is

dedicated to making the concerns of Kashipur inhabitants heard by ALCAN and the general

public. They are an entirely volunteer-based grassroots group with no direct affiliation with any

non-governmental organizations. Alcan’t is in direct contact with both local movement leaders and

elected representatives in the Kashipur area.

MiningWatch (http://www.miningwatch.ca/) – MiningWatch Canada (MWC) is a pan-Canadian

initiative supported by environmental, social justice, Aboriginal and labour organisations from

across the country. It addresses the urgent need for a co-ordinated public interest response to the

threats to public health, water and air quality, fish and wildlife habitat and community interests

posed by irresponsible mineral policies and practices in Canada and around the world.

 

4.1.2 Brazil 

 

“Practically speaking, the commencement of operations at the dam is a tragedy for the families 

and workers who have lived in the Code River Valley for over 300 years and for the environment 

of Minas Gerais, Brazil, The flooding of the their homeland represents a final defeat in their six- 

year struggle against the Candonga Consortium to preserve the River and their cultural heritage 

and to ensure their social and economic survival.”108  

 

Alcan’s former operations in the State of Minas Gerais, Brazil and its involvement in a joint

venture with Companhia Vale do Rio Doce called the Candonga Consortium, provides a clear

example of Alcan’s negative track record when dealing with population displacements. The

Consortium was created in May 2000, and was then composed of the giant Brazilian steel

107 

 Alcan Website, Frequently Asked Questions,

http://www.alcan.com/web/publishing.nsf/Content/Joint+Venture+in+Orissa/$FILE/Utkal+-+Qs+and+As+-+En.pdf

108 

 Official correspondence no 266/04 JG/RJ, to Mr. Miloon Kothari, United Nations Special Rapporteur on Adequate

Housing, UN Commission on Human Rights, from the residents and workers affected by the Candonga Hydroelectric

Dam, http://www.global.org.br/english/arquivos/candongaenglishfinal.pdf

 28

corporation Companhia Vale do Rio Doce (CVRD) and Energia Eletrica, Promocao e

Participacoes Ltda’s (EPP). Alcan became a joint venture partner in October 2001 when it bought

Energia Eletrica, Promocao e Participacoes Ltda’s (EPP) 50% share for $7.05 million U.S.109

Alcan entered into the joint venture to ensure a steady supply of electricity for its former (it is now

controlled by Novelis) smelter in Ouro Preto situated close to the Rio Doce where the dam was

eventually built. The Ouro Preto factory uses a smelting process which demands vast amounts of

power and produces high pollution emissions. Alcan closed its Jonquiere, Quebec, smelter, which

was identical to the Ouro Preto facility, because, according to CEO Travis Engen, the company

needed to make decisions that were “environmentally responsible.”110 Engen also said that

despite Alcan’s “efforts over the years to bring the Jonquière Söderberg lines up to today’s

environmental and technological standards, the reality is that this technology has a limited life

span.”111

To the people of region affected by the construction of the Candonga dam Engen’s claim of

environmental responsibility, made only 6 months before the dam went into operation, must ring

hollow. This section will cover the order of events that in the construction of the Candonga dam

and Alcan’s complicity in the destruction of the lives of over 150 families. The information in this

section is based on an Official correspondence between the Global Justice Center along with

other social justice groups and the United Nations Special Rapporteur on Adequate Housing for

the United Nations Commission on Human Rights. The Special Rapporteur referenced the report

in his official report to the High Commission.

The concession contract for the construction of the Candonga dam was granted to the

Consortium in May 2000. This concession contract, granted by Brazil’s National Electrical Energy

Agency, gave the Consortium the right to use public goods to generate electric energy. It also

confirmed the legal responsibility of the federal agency for the supervision and control of the

environmental licensing process as well as affirmed the consortium’s responsibility for future

environmental damages and human rights violations.112

The construction plans for the dam would require the displacement of the residents of the

neighboring town of Sao Sebastao do Soberbo. The Consortium began a negotiation process

with the residents of the community in order to convince them that the dam would be good for the

community (which would later be completely inundated with water) and to negotiate

compensation for displacement. Local share croppers and gold diggers, who made their living

from the river and the land surrounding it were completely excluded from negotiating process and

only a few ever received compensation at all.113 At the beginning of the process, residents did not

know that their town would be destroyed.

The process began when technicians from the EPP contacted residents (the EPP’s share of the

Consortium was acquired by Alcan in 2001) presenting the project as scientific and

progressive.114 During the same period other tactics were used by the Candonga Consortium

(prior to Alcan’s involvement) such as organizing a party for residents and a visit to the

community of Nova Ponte where a dam had already been constructed. The residents of Sao

Sebastao do Soberbo learned from the people of Nova Ponte what the dam meant for them:

broken promises, deceptions and important losses. It was at this point that the first signs of

resistance by the residents of do Soberbo began to show.115

109 

 ibid, p. 14

110 

 “Alcan to Halt Production at its 60-Year-Old Jonquière Söderberg Aluminum Smelter in Quebec”, Alcan press release,

January 22, 2004, http://www.alcan.com/web/publishing.nsf/Content/Alcan+to+Halt+Production+at+its+60-Year- 

Old+Jonqui%C3%A8re+S%C3%B6derberg+Aluminum+Smelter+in+Quebec

111 

 Official correspondence no 266/04 JG/RJ, to Mr. Miloon Kothari, United Nations Special Rapporteur on Adequate

Housing, UN Commission on Human Rights, from the residents and workers affected by the Candonga Hydroelectric

Dam, http://www.global.org.br/english/arquivos/candongaenglishfinal.pdf 

112 

 ibid, p. 14

113 

 Ibid p. 20 

114 

 Ibid p. 16

115 

 Ibid p. 16

 29

The negotiations between the Consortium and the residents continued with technicians and

negotiators contacting residents by going door to door in order to assess the value of their houses

and properties. Residents of Sao Sebastao do Soberbo were generally offered to exchange their

houses and properties for a new house and land that would be built for them by the Consortium.

Property values were to be assessed by the technicians. After technicians had assessed the

property values they would return with a figure and offer the residents that amount. A Global

Justice Center investigation revealed that none of the residents were able to understand the

technicians’ numbers and calculations. The report says that the residents “had no participation

whatsoever in the assessment of the value of the properties. Contrary to these findings both

Alcan116 and Novelis117 claim that the negotiations were transparent and undertaken collectively.

The Global Justice Center investigation reported that the Consortium insisted on negotiating with

each family individually. Families, therefore, had no way of knowing how the prices offered for

their properties compared to others in the community. This led to disparities over the assessed

value of properties.118

The Global Justice Center’s report said that negotiations took place in a violent and tense

atmosphere where threats, lies and misinformation were the norm. They documented several

cases where residents received death threats for resisting selling their properties or for their

membership in the residents’ association. In one case a resident, who refused to sell his land to

the Consortium and whose house was located on the construction site, disappeared under

suspicious circumstances.119 A number of families were told that they had to give up their land

because their properties had become a public good.120 The report notes that “public good” means

the generation of electricity for private consumption at the Alcan (now Novelis) and CVRD

factories.

The Global Justice Center’s investigation said that the negotiations showed “complete disrespect

on the part of the Consortium towards the families…were dominated by violence, pressure

psychological manipulation and threats, and led to completely arbitrary results.”121 Even the State

Foundation for the Environment of Minas Gerais (FEAM) stated that the way the negotiations

were conducted could be an obstacle to the issuance of the operating license and that the

Consortium failed to respect the universality of the recognition of social and economic rights for

all of the residents. The FEAM also pointed out that the negotiation process was compromised by

the undervaluation of properties, the lack of consideration of depreciation factors due to the dam,

the lack of recognition of the functional value of the lands and the lack of consideration for the

loss of opportunities for residents.122

Few residents and landowners were ever fully compensated for their lost homes and land. Once

the residents had moved and Sao Sebastao do Soberbo destroyed, the Consortium decided to

move its office to the municipality of Rio Doce, making communications between residents and

company even more difficult.123 Many of the residents signed agreements with the Consortium to

sell their house for a brand new one in a new community that would be built by the Consortium.

The new community is located on a farm whose owners did not want to sell their land to the

Consortium, and were eventually forced to by a court order. The Global Justice Center’s report

116 

 Alcan Brazil website,

http://www.alcan.com.br/brazil/alcan/corporate/sitebrasil.nsf/winstitucional?openform&sitealcanbrasil&(institucional)&Usin 

aCandonga

117 

 Novelis Brazil website,

http://www.novelis.com.br/brazil/novelis/corporate/sitebrasil.nsf/winstitucional?openform&sitealcanbrasil&institucional&Usi 

naCandonga

118 

 Official correspondence no 266/04 JG/RJ, to Mr. Miloon Kothari, United Nations Special Rapporteur on Adequate

Housing, UN Commission on Human Rights, from the residents and workers affected by the Candonga Hydroelectric

Dam, http://www.global.org.br/english/arquivos/candongaenglishfinal.pdf, p. 17 

119 

 Ibid p. 18 

120 

 Ibid p. 17 

121 

 ibid p. 19

122 

 ibid p. 21

123 

 ibid, p 22

 30

says that the situation has yet to be resolved and the property titles have yet to be passed to the

displaced residents of the old Sao Sebastao do Soberbo. This has left many in a stressful and

tenuous situation over their right to housing.124

According to the Global Justice Center’s report the construction of the new community has been

a complete disaster for the families, the municipality of Santa Cruz do Esclavado and the state of

Minas Gerais. During the construction, which began in March 2002 (Alcan purchased EPP’s

share of the Consortium in October 2001), a number of irregularities, rights violations and

situations of disrespect were perpetrated by the Consortium.125 While the Consortium claimed that

it would provide technical support, transparency and open dialogue with the communities, work

on the new town continued unilaterally. Families who tried to access the construction site were

denied access and their needs were disrespected.

Eventually 120 homes were constructed in the new community. Families began moving to New

Soberbo in late 2003 and by December of that year 41 families had moved. Others refused to

leave the old town because of outstanding claims with the Consortium. In order to pressure

residents to move to the new city the Consortium forced the bus company to discontinue its

service to the Old Soberbo and destroyed the road between Rio Doce and the old town. The

Consortium also organized social parties in the New Soberbo in order to convince residents to

move in. Residents were also harassed by the Consortium and offered large amounts of money

to move. The school, which served as an emergency shelter during what was then the rainy

season, was eventually torn down in order to pressure residents to move out. By the end of April

2004 all of the residents except for 14 families had succumbed to the pressure and moved to the

new community.126

The displaced residents encountered a number of problems with their new houses and public

buildings in the New Soberbo. Some of the problems include: a backyard with infertile soil, which

has lead to food insecurity; the houses have serious infrastructure defects including, cracks in the

walls, water and soil infiltrations, water condensation, lack of hot water, and problems with leaky

roofs; lack of space; yellowish and brown drinking water; and increased living costs.127 The Global

Justice Center’s report states that “The Consortium simply left the families without any means of

subsistence.”128

On May 3, 2004, 192 police officers from the civil, federal, military police and security agents,

some heavily armed, showed up in the Old Soberbo to evict the final 14 families. The police were

followed by demolition material and moving trucks. What followed, as described in the Global

Justice Center’s report, was a scene of terror with the police forcefully evicting and humiliating

residents. All of the remaining houses were torn down in some cases with furniture and personal

belongings still inside. Alcan Brazil’s director of institutional relations and the Consortium’s

director of communications insisted that the use of force was justified because of threats of

resistance.129 What the Alcan employees failed to mention was that a large number of the people

left in the old town were elderly and unable to put up any resistance.

On April 2, 2004 the Nucleo de Assessoria as Comunidades Atingidas por Barrangens (NACAB),

a group made up of lawyers, economists, activist, agronomists, members of the Movement for the

Populations Affected by Dams (MAB) and the Pastoral Land Commission in Minas Gerais, filed a

civil suit against the state of Minas Gerais, Alcan, CVRD, and the Candonga Consortium in the

Trial Court of Ponta Nova. The suit challenged the legality of the dam’s Operating License that

had been issued on March 30, 2004 citing the failure to protect the rights of the affected

124 

 ibid, p22

125 

 ibid, p.22

126 

 ibid, p. 26

127 

 ibid p. 25

128 

 ibid p.29

129 

 ibid p. 27

 31

population and requested an injunction against the operation of the dam.130 The NACAB asked

the judge to grant a temporary injunction and to bar Alcan, CVRD, and the Candonga Consortium

from filling the reservoir unless the socio-economic disputes mentioned in the suit be properly

resolved. On April 15, 2004, the judge from the Ponte Nova Trial Court issued the injunction

against the commencement of operations.

The judge held that defendants (Alcan, CVRD, Candonga Consortium) did not resolve all that

was required for the implementation of social and environmental measures during the

construction of the dam and that they did not fulfill their promises concluding that the operational

license should not have been granted. She also said that once the reservoir was filled there

would be no way to ensure that the outstanding claims of the community would be heard. She

then granted the injunction saying that the Operation license would be suspended until all of the

social and environmental disputes and outstanding claims were resolved.131

On April 26, Alcan and the CVRD appealed the decision. They argued a number of points,

including: that the injunction was unfair to them and the general public since it would put the

project at risk; that the general public would suffer because the energy produced would benefit

the community (in reality the electricity generated by the dam would benefit Alcan and CVRD’s

smelting operations); that there was no evidence to support the injunction saying that the

environmental licensing process occurred properly and conformed with social and environmental

legislation. In addition to its appeal, the defendants offered a $4.6 million (U.S.) legal guarantee to

the Judge in Ponte Nova in order to prove that they could pay for the outstanding claims with the

communities if they decided to resolve them.

In a setback to the resistance movement on May 18, 2004 the mayors of the neighboring

communities of Rio Doce and Santa Cruz do Esclavado filed an intervention in favour of the

Consortium. On June 4, 2004, the Consortium received further support from the Office of the

Public Prosecutor of the State of Minas Gerais, which agreed with the defendants arguing that

barring the operation of the dam will not resolve the outstanding claims and that the dam is an

irreversible reality.132

On June 14 the Trial judge upheld her decision by refusing to lift the injunction in exchange for

the defendants’ legal guarantee, stressing that the Consortium had violated their contractual

obligation to the residents. The residents and the NACAB finally lost their legal challenge on June

22 when the President of the Superior Court of Justice of the State of Minas Gerais responded to

the request for intervention by the neighboring mayors and overturned the injunction on the basis

that the public interest would be harmed if the reservoir was not filled. The Consortium began

filling the reservoir that same day.133

Soon after the reservoir was filled, representatives from the State Foundation for the Environment

of Minas Gerais (FEAM) visited New Soberbo and Santana do Deserto to ensure that the filling of

the reservoir had occurred safely and conformed to their norms and regulations. They also

inspected the resettlement projects. They noted a number of problems including: a lack of safety

measures that the Consortium had previously committed to for the filling of the dam; the failure to

construct a transportation system for fish in order to regulate reproductive cycles; a high level of

dissatisfaction among the displaced residents; serious building problems with the new homes;

unpaid compensation; unsafe roads; no roof on the new school; as well as problems with waste

management and risk from flooding.134

This case provides a clear example of how a multinational corporation is capable of permanently

altering the lives of hundreds of residents for the monetary gain of their shareholders. While Alcan

130 

 ibid p. 40

131 

 ibid p. 41

132 

 ibid p. 42

133 

 ibid

134 

 ibid p 43

 32

is no longer legally responsible for the Candonga dam or the smelter which operates from the

electricity generated at the dam, its actions between October 2001 when it took 50% control of

the Consortium and January 2005 when Novelis assumed control of operations, contradict its

rhetoric of sustainability and transparency.

Ongoing campaigns: Justica Global/Global Justice Center (http://www.global.org.br/) – The

Global Justice Center is a non-profit organization dedicated to the promotion of human rights in

Brazil through rigorous fact finding, documentation and reporting, direct action, as well as the use

of international mechanisms for the protection of human rights. The group has registered more

than 100 complaints with the United Nations special mechanisms for the protection of human

rights.

4.1.3 Cameroon – Alucam and the proposed Lom Pangar Dam 

 

“A key factor influencing global corporations to invest in a given region is the willingness of 

governments, communities and other stakeholders to work together in supporting issue resolution 

and development…The balance between the financial returns and sustainable development leads 

to investments that maximize value. Sustainable development in turn, involves a range of 

responsibilities and concerns — for the community, for the environment and for employees — and 

this can be achieved only through a productive dialogue with all the stakeholders who have a 

vested interest in the region”135. Cynthia Carroll, Senior Vice President Alcan Inc., at a business

forum on globalization 

 

Just as Alcan is cutting back its smelting operations in Canada, it is planning to double the output

of its smelting operations in Cameroon where it has 47% percent direct ownership in a joint

venture named Alucam.136 Alucam is jointly owned by Alcan (47%) and the government of

Cameroon (53). Because of the availability of cheap labour and cheap electricity, Alcan sees

Cameroon as a favourable location to increase its operations. In its 2004 annual report the

company states that “with a sharp focus on cost reduction, productivity improvement and

technology development, Alcan is continuously reinforcing its low cost primary metal position.

Alcan believes that 75% of its production is produced at costs which are lower than the world

average.”137 In the case of Cameroon, these lower than average costs are subsidized by the

Cameroonian population and come at great risk to the environment.

Alcan’s Cameroon operations produced a relatively low 40,100138 tonnes of primary aluminum in

2004. As with all of Alcan’s smelting operations, a cheap and accessible source of power is

essential for profitability. In Cameroon, Alucam consumes nearly half of the energy produced at

the country’s privatized electric utility (AES-Sonel) at greatly subsidized prices while the majority

of the population does not have access to electricity. 139 Estimates range from 78%140 to 95%141 of

Cameroon’s population does not have access to electricity. In addition, Alucam purchases its

power from AES-Sonel at below-cost energy prices. Alucam’s contract with AES-Sonel

guarantees electricity at greatly reduced rates. The joint venture purchases 40% of AES-Sonel’s

135 

 “Alcan Primary Metal President addresses global forum on aluminum industry’s driving factors” Alcan Inc. Press

Release, Friday March 4, 2005

136 

 “Lom Pangar Dam, Cameroon: Drought could cripple Cameroon’s hydro-heavy energy sector”, International Rivers

Network, Unpublished Article, April 2005

137 

 Alcan 2004 annual report 10-k, p. 19

138 

 Alcan’s 2004 smelting output around the world: 1.56 million tonnes in Canada, 196,900 tonnes in the U.S., 211,900 in

the U.K., 108,800 in Brazil, 178,400 in Iceland, 82,200 in Norway, 44,900 in Switzerland, 442,200 in France, 217,800 in

the Netherlands, 255,000 in Australia, and 43,900 in China.

139 

 “Lom Pangar Dam, Cameroon: Drought could cripple Cmaroon’s hydro-heavy energy sector”, International Rivers

Network, Unpublished Article, April 2005 

140 

 Hydro Potential and Benefits for Social and Economic Development, International Journal on Hydropower and Dams,

Issue six, 2004, p. 44

141 

 “Lom Pangar Dam, Cameroon: Drought could cripple Cmaroon’s hydro-heavy energy sector”, International Rivers

Network, Unpublished Article, April 2005

 33

total annual power generation compared to a much lower 25% purchased by low voltage

(households, small business and street lights) consumers. Comparing AES-Sonel’s source of

revenue the percentages are dramatically different, with Alucam representing approximately 12%

of the power company’s revenues while low voltage consumers cover approximately 54% of their

annual revenue.142 These statistics show that the Alucam’s electricity consumption is being

subsidized by residential consumers.

If Alucam doubles its output it will need to greatly increase its power consumption. A potential

source for this extra power would be from AES and the Cameroonian government’s proposed

Lom Pangar Dam project, which would displace rural villagers and flood protected forests. Since

Hydropower already represents 95% of Cameroon’s supply of electricity, the proposed dam

would increase Cameroon’s economic vulnerability to blackouts caused by drought.143 The

majority of the electricity generated by the proposed dam would go towards Alucam’s smelting

operations.

In 2003 The World Bank, which ironically advised the Government of Cameroon to privatize its

national power company, raised concerns about the Lom Pangar dam saying: “The Lom Pangar

dam has raised some concerns for the World Bank Group because of potential negative social

and environmental impacts related to long-term and cumulative changes in the Sanaga river

system flow regime. The flooding of a large dam catchment area would affect a portion of the

Deng-Deng forest, a biodiversity hotspot explicitly protected under current arrangements.”144

The project originates with the privatization of the national electricity company in 2001 when AES

agreed to develop the Lom Pangar dam within seven years if it was found to be the least cost

option. The project is part of AES’ 20-year contract to run the utility. If recent environmental

impact assessments comply with international standards and the project receives financing,

construction could begin as early as 2005 and be completed by 2008.145

While it is clearly in Alcan’s interest, It is unclear whether or not Alcan has a direct hand in

pushing the dam project forward. However, the Chief Executive Officer of Alcan’s Primary Metals

group was recently in Cameroon and visited the Prime Minister in late 2004. On the agenda was

the possible expansion of Alucam’s output and AES-Sonel’s obligation to develop the Lom

Pangar Dam.146

Ongoing campaign: International Rivers Network IRN (http://www.irn.org/) – This California

based group supports local communities working to protect their rivers and watersheds. The

group works to halt destructive river development projects, and to encourage equitable and

sustainable methods of meeting needs for water, energy and flood management. The IRN is

conducting research into the proposed hydroelectric dam in Cameroon.  

4.1.4 Alcan in South Africa 

 

After sustained pressure from social justice groups in Canada over its investments in South Africa

during apartheid, Alcan sold its 24% interest in South African aluminum company Hulett

Aluminum in March 1986. Alcan announced the sale only three weeks after stating that no plans

existed to dispose of their share.147 During the 1980’s Hulett Aluminum was involved in the

142 

 Pineau, P.O., “Transparency in the Dark: An Assessment of the Cameroonian Electricity Sector Reform”, August 12,

2004, http://web.uvic.ca/padm/faculty/pineau/pdfs/cameroonassessment.pdf

143 

 “Lom Pangar Dam, Cameroon: Drought could cripple Cameroon’s hydro-heavy energy sector”, International Rivers

Network, Unpublished Article, April 2005 

144 

 ibid

145 

 ibid

146 

 “Le group Alcan Primary Metal se cherche sa voie”, The African Independent,

http://www.africanindependent.com/cam_alcan_cherche_voie112004.html

147 

 Gibbens, R., “Alcan reverses plans; will sell stake in Hulett”, The Globe and Mail, March 21, 1986

 34

manufacture of material for military equipment, thus, according to The Task Force on the

Churches and Corporate Responsibility (TFCCR), contributing to the South African apartheid

government’s plans to prolong its armed repression in the country.148 In 1982 the TCCR filed one

of three shareholder proposals with Alcan designed to pressure the company to divest its interest

in Hulett. When the company did eventually divest its interest in 1986 it claimed it was purely a

business decision.149 Alcan was a founding shareholder of Hulett in 1949.

4.1.5 Alcan in British Columbia 

In 1949 Alcan was granted permission by the Governments of British Columbia and Canada to

construct a hydro-electric dam on a watershed of its choice. Alcan chose the headwaters of the

Nechako River for its project known as Kemano I.150 The dam would ultimately provide electricity

for Alcan’s smelter in Kitimat. The construction of the dam, which reversed the flow of the river

through a 16km tunnel to a power plant in Kemano, led to the flooding of 49,000 hectares of the

Upper-Nechako watershed. The flooding removed about three-quarters of the natural flow of the

Nechako River and damaged salmon spawning grounds.151 While other options existed at the

time, Alcan chose to build the dam’s spillway out of the Cheslatta River, a tributary that emptied

into the Nechako River approximately 10km from the dam. This decision required the relocation

of the Cheslatta people from their land because the spillway would periodically flood all of the

villages along the river’s edge. In 1952, only one month before the dam would go into operation,

the Department of Indian Affairs forced the Cheslatta to relocate using questionable tactics,

including the alleged forgery of surrender documents. Adult band members received only $50 as

compensation. Eleven separate reserves were found for band members on an existing ranching

community.152 In 1998 the Cheslatta-Carrier launched a legal battle in the B.C. Supreme Court

over the hydroelectric dam saying that while band members live in poverty the federal and

provincial governments have allowed Alcan to make huge profits from the exploitation of their

land. The Cheslatta-Carrier Nation sought unspecified damages and an injunction ordering Alcan

to repair the damage done to the Nechako River by constructing a proper water flow release

system.153 In 2001, a government-industry committee recommended a $100 million project to

restore the River.154

In 1980, Alcan announced plans for the Kemano Completion Project (KCP), which proposed to

dam the nearby Nanika River and create a second reservoir that would be connected by canal to

the existing Nechako system. The KCP was designed to increase Alcan’s production of

hydroelectricity. Under pressure from critics in 1987, who claimed the expansion was Alcan’s

attempt to become a private power company, the corporation managed to conduct closed-door

meetings with federal and provincial officials who granted permission for the company to go

ahead with its plans without subjecting them to public or environmental review.

Alcan’s underhanded dealings with authorities sparked a powerful and sustained social

movement by the Cheslatta, local ranchers and Mennonites. The movement received support

from aboriginal and environmental groups from around the world. Due to growing political unrest,

B.C. Premier Mike Harcourt’s Government cancelled the KCP in 1995.155

148 

 Auman, A., “Churches hail Alcan’s sale of S. African unit”, The Toronto Star, March 25, 1986

149 

 ibid

150 

 Larsen, S., “Promoting aboriginal territoriality through interethnic alliances: The case of the Cheslatta T’en in northern

British Columbia”, Human Organization, Vol. 62, Issue 1, 2003

151 

 Kenedy, P. “Cheslatta band sues over 1950s Alcan deal”, Financial Post, April 15, 1998

152 

 Larsen, S., “Promoting aboriginal territoriality through interethnic alliances: The case of the Cheslatta T’en in northern

British Columbia”, Human Organization, Vol. 62, Issue 1, 2003 

153 

 “BC band launches lawsuit against hydroelectric projects”, Canadian Press Newswire, April 14, 1998

154 

 “Committee recommends $100M project to restor B.C.’s Nechako River”, Canadian Press Newswire, June 7, 2001

155 

 Larsen, S., “Promoting aboriginal territoriality through interethnic alliances: The case of the Cheslatta T’en in northern

British Columbia”, Human Organization, Vol. 62, Issue 1, 2003 

 35

4.2 Environmental Track Record 

 

 “Aluminum delivers real value in terms of customer solutions that make economic sense and are 

environmentally friendly.”156 Travis Engen, Chair and Chief Executive Officer

 

Alcan has put an enormous amount of money and energy into constructing its image as an

environmentally responsible, sustainable and green corporation. It has published sustainable

development reports listing its philanthropic and environmental actions around the world. Through

its affiliation with large international institutions, such as the United Nations Global Compact and

the World Business Council for Sustainable Development, Alcan has been able to further paint its

operations as environmentally friendly and socially responsible. Alcan’s recent focus on

sustainable development and Corporate Social Responsibility is a response to greater scrutiny of

multinational corporations by civil society groups around the world. While Alcan has been able to

position itself as a ‘leader’ in sustainability its operations around the world continue to be

environmentally damaging. Alcan operates huge smelters and refineries that release dangerous

chemicals into the environment, their operations require incredible amounts of electricity from

destructive hydro electric dams, and their bauxite mines employ the most damaging form of

mining: strip mining. In addition, Alcan plans to expand its operations in the South where

environmental regulations may be less stringent. Regardless of Alcan’s effort to convince the

world that they are environmentally and socially responsible, they are a part of a very destructive

industry. Apart from Alcan’s environmental impacts mentioned in the section above, other

examples of the company’s track record are included below.

Toxic Pollution 

Alcan’s Vaudreuil bauxite refining operation in Jonquière Quebec released 10,163,062 kg of

toxins in 2001.157 This included more than 10 million kg of calcium fluoride to an onsite landfill.

Calcium fluoride can irritate lungs and cause bone changes (referred to as skeletal fluorosis).158

The plant also released 3,236kg of benzo(a)pyrene to the landfill, a chemical known for causing

cancer. In 2003 the Vaudreuil bauxite project was listed as the largest discharger of toxic

chemicals by Environment Canada (as defined under the Canadian Environmental Protection

Act).159 In response to Alcan’s dumping of toxins Paul Muldoon, Executive Director of the

Canadian Environmental Law Association said: “I take little comfort when I hear that dangerous

chemicals are being buried in landfills. Sooner or later landfills leak, and people and the

environment are exposed to contaminants”.160

Alcan’s Shawinigan factory, where the company produces aluminum cables, is Canada’s third

largest source of toxic pollution.161 Between 1995 and 2001 the factory released 1 916 404 kg of

calcium fluoride, most to an off-site landfill, 65,142 kg of hydrogen fluoride to air, and 4 929 kg of

cancer-causing benzo(a)pyrene to the air”.162

 

Alcan in Jamaica 

 

Alcan opened its mining operations in Jamaica in 1953 and sold out to the private Swiss company

Glencore in 2001. About one-third of Jamaica’s bauxite refining capacity changed hands during

156 

 Notes for an address by Richard B. Evans, Executive Vice President, Alcan Inc. and President, Aluminum Fabrication,

Europe at The International Aluminum Forum May 18, 2001,

http://www.alcan.com/web/publishing.nsf/Content/Aluminum+Opportunities+for+a+New+Era+or+The+Seven+Sirens+of+t 

he+Aluminum+Industry 

157 

 No Author., “Canadian polluters increased chemical release by 20% from 1995 to 2001,” Enviromental Defense, June

19 2003, http://www.environmentaldefence.ca/pressroom/releases/20030619-e.htm

158 

 ibid

159 

 ibid

160 

 ibid

161 

 ibid

162 

 ibid

 36

the transaction.163 Prior to its acquisition of Switzerland’s Alusuisse in 2000 Alcan had plans to

double the output of one of its Jamaican refineries. The purchase of the Swiss company,

however, gave Alcan more bauxite and alumina than it needed.164

In 2001 a report on land use and forest cover determined that bauxite mining was the single

largest cause of deforestation in Jamaica.165 The study stated that the significant degradation of

forests and watersheds occurred in mining areas in the parishes of Trelawny, St. Anne, St.

Elizabeth, Manchester, Clarendon and St. Catherine. It went on to say that the most affected

areas were in the parishes of St. Anne and Manchester. The parish of Manchester is where

Alcan’s Kirkvine facilities were located (the site continues to be mined by Glencore and

Windalco).

Porto Trombetas: bauxite mine Brazil 

Alcan owns 12.5% of Mineracao Rio Do Norte along (MRN) with Alcoa (18.2%, U.S.), BHP

Billinton Plc (14.8%, Australia), Companhia Brasileira de Aluminio (10%, Brazil), Companhia Vale

do Rio Doce (40%, Brazil) and Norsk Hydro ASA (5%, Norway). MRN operates one of the world’s

largest bauxite mines in Porto Trombetas in the State of Para 880 from the city of Belem. The

region holds large reserves of bauxite. MRN’s exploitation of these reserves, which began when

the mine began operations in 1979, represents one of the worst cases of aggression against the

environment in this region of Brazil. Between 1979 and 1989, MRN dumped 24 million tonnes of

bauxite waste (tailings) into neighbouring Batata lake. The dumping caused the destruction of a

large part of Batata lake’s ecosystem. In some places the layer of bauxite at the bottom of the

lake reaches a thickness of 4.5 metres.166

 

 

4.3 Labour Track Record 

 

For a complete history of worker struggles at Alcan’s Kitimat smelter in British Columbia please

visit the Canadian Auto Workers local 2301’s website: http://www.caw2301.ca/early.htm

Workplace deaths 

An alarming number of workplace fatalities have occurred at Alcan’s worldwide operations over

the past five years (5 in 2004167, 3 in 2001168 and 3 in 2000169 statistics for 2002 and 2003 are

unavailable). Some of the cases of workplace fatalities include:

In one case in 2001, a worker at Alcan’s Aluminium plant in Rogerstone170, South Wales

was crushed to death by a crane. The worker chose to climb across the crane after

deciding that an oil covered walkway was too dangerous to cross. The company was

fined Pounds 35,000 for the incident.171

In 2004 a worker at Alcan’s operations in Gove, Australia was crushed while conducting

maintenance at a steam power station. The employee was working on a boiler while the

163 

 James, C., “New beginning for Jamaican bauxite: One-third of the island’s refining capacity has changed hands”,

Financial Times, June 13, 2001

164 

 “Jamaica”, Mining Annual Review, October 2001

165 

 Neufville, Z., “Bauxite mining blamed for deforestation”, Interpress Service, April 6, 2001

166 

 “Trombetas: the world’s largest bauxite mine”, Amigos da Terra – Amazonia Brasileira,

http://www.amazonia.org.br/english/noticias/noticia.cfm?id=71557

167 

 Alcan 2004 Annual Report,

http://www.alcan.com/web/publishing.nsf/AttachmentsByTitle/Annual+Reports/$file/Alcan+2004+Annual+Report.pdf

168 

 http://www.alcan.com/corporate/alcancom.nsf/graphics/reports/$file/csr_actions_e.pdf

169 

 Alcan’s 2000 Annual Report,

http://www.alcan.com/annualrp.nsf/0/b1328b3c03453bde85256a5c0053642a?OpenDocument

170 

 The Rogerstone plant was transferred to Novelis in January 2005

171 

 Stead, M., “Crushed to Death”, South Wales Echo, June 5, 2001

 37

power plant was shut down when he became pinned by a piece of equipment that shifted

unexpectedly.172 Various investigations into the incident are underway.

At Alcan’s smelter in Kitimat, British Columbia, over 20 workers have been disabled by or

have died from on-site exposures to cancerous emissions.173

 

Worker action 

 

Kitimat and Arvida  

In April 2005, employees at Alcan’s smelters in Kitimat, British Columbia and Arvida, Quebec

passed resolutions supporting campaigns against the company’s proposed bauxite mine and

refinery in India’s eastern state of Orissa. Canadian Auto Workers Local 2301 in Kitimat passed a

resolution saying that workers at the smelter will refuse to smelt any alumina shipped to British

Columbia from Alcan’s operation in Orissa.174

 

Quebec 

In Late January and early February 2004 workers at Alcan’s Arvida refinery in Saguenay (who

had recently affiliated with the Canadian Auto Workers) took control of their plant.175

Between the times the plant was taken over and running it under self management in late

January and February 4th the union claimed that “the smelter has turned out 1,500 tonnes of

aluminum since then, providing Alcan with some 2.25million in sales.176

The take over was in reaction to Alcan’s decision to close the plant in the spring of 2004, cutting

550 jobs.177 The 60 year old plant was originally slated to close in 2014.178 Alcan had stated that

all of its Canadian plants using Soderberg technology will be closed by 2015 due to inefficiency

and pollution.179

Alcan claimed that they were shutting down the plant early because of the rapid rise of the

Canadian Dollar.180 However, another source claims that the plant was closed in order to “take

advantage of the slew of pending retirements and wouldn’t have to make layoffs.181

On January 31st 2004, 5000 people demonstrated against Alcan’s proposed closure.182

President of the Quebec Labour federation Henri Masse said “The message is simple…Alcan

must respect it promises…. There are long-term agreements with the union… (They) provide for

the preservation of employees and operations. Alcan is breaking its promises.183

172 

 “Call for tough mining inquiry”, Northern Territory News, August 13, 2004

173 

 “Behind the Shining: Aluminum’s Dark Side”, an IPS/SEEN/TNI report, 2001,

http://www.saanet.org/kashipur/docs/seenalum.htm

174 

 “Alcan workers at Kitimat, B.C., refuse to smelt alumina from Orissa, India”, Canadian Press, April 13, 2005

175 

 No Author., “Alcan’s rolling reversal; Militant union claims production at Quebec smelter improved since it took control,”

Hamilton Spectator, February 4th 2004, p A14

176 

 ibid

177 

 No Author, “Thousands demonstrate against closing of Alcan’s Saguenay Que. Smelter,” Canadian Press News Wire,

January 31 2004

178 

 ibid

179 

 No Author., “Alcan’s rolling reversal; Militant union claims production at Quebec smelter improved since it took control,”

Hamilton Spectator, February 4th 2004, p A14

180 

 No Author, “Thousands demonstrate against closing of Alcan’s Saguenay Que. Smelter,” Canadian Press News Wire,

January 31 2004

181 

 No Author., “Alcan’s rolling reversal; Militant union claims production at Quebec smelter improved since it took control,”

Hamilton Spectator, February 4th 2004, p A14

182 

 ibid

183 

 No Author., “Thousands demonstrate against closing of Alcan’s Saguenay Que. Smelter,” Canadian Press News Wire,

January 31 2004

 38

5. Shareholder Profile 

 

3.1 Alcan’s top ten institutional investors as of March 2005 

 

For more information regarding Alcan’s major investors please follow the links provided

 

Holder # of shares from 

370 million 

outstanding 

% of total 

shares Value 

Morgan Stanley

http://www.morganstanley.com 21,672,135 5.86 $821,807,359

Fidelity Management & Research

https://www.fidelity.com 15,166,623 4.1 $575,118,344

Capital Guardian Trust Company

http://server.capgroup.com/capitalguardian 15,054,555 4.07 $570,868,725

McLean Budden Ltd

http://www.mcleanbudden.com 11,023,018 2.98 $417,992,842

Bankmont Financial Corp

http://www4.bmo.com 9,755,005 2.64 $369,909,789

TD Asset Management

http://www.tdassetmanagement.com 7,633,295 2.06 $289,454,546

Deutsche BK Aktiengesellschaft

http://www.deutsche-bank.de 7,263,542 1.96 $275,433,512

Franklin Resources

http://www.franklintempleton.com 6,883,189 1.86 $261,010,526

I.G. Investment Management, Ltd

http://www.investorsgroup.com 6,547,687 1.77 $248,288,291

RBC Asset Management Inc.

http://www.rbcfunds.com 6,104,144 1.65 $231,469,140

[Source: Yahoo Finance]

 

3.2 Alcan’s top ten mutual fund holders as of December 2004 

 

 

Holder # of 

shares % of 

total Value 

Oppenheimer Quest Balanced Fund

https://www.oppenheimerfunds.com 4,700,000 1.27 $217,704,000 

Pimco Fds Multi Mgr Ser-Pea Value Fund

http://www.pimco.com 3,448,716 0.93 $164,848,624 

Investment Company of America  2,500,000 0.68 $122,600,000 

Pimco Fds Multi Mgr Ser-Pea Renaissance Fund

http://www.pimco.com 2,340,000 0.63 $111,852,000

Fidelity True North Fund

http://www.fidelity.ca/fidelity/cda/live/1,,english~525,00.html?strmid=54 2,200,000 0.59 $107,888,000 

Templeton Institutional Funds, Inc-Foreign Equity Series

http://www.ftinstitutional.com/inst/ 2,055,803 0.56 $98,267,383

Fidelity Canadian Asset Allocation Fund

http://www.fidelity.ca/ 2,000,000 0.54 $98,080,000

Fidelity Value Fund http://www.fidelity.ca/ 1,955,960 0.53 $77,788,529

New Perspective Fund Inc

http://www.americanfunds.com/ 1,575,000 0.43 $77,238,000

 39

[Source: Yahoo Finance]

 

3.2 Other investors 

 

The Canadian Pension Plan – The CPP Investment Board owns 5.6 million shares of

Alcan worth $257,549,000 (cnd).

The Ethical Funds Company – http://www.ethicalfunds.com/

Canada Life – http://www.canadalife.ca

Desjardins Environment Fund – http://www.desjardins.com/

 

 

 

 

 

 

 

 

 

 

 

 40

Appendix 1 

 

 

Relevant quotes from Alcan executives and directors 

Travis Engen“Our ambition as we go forward is no less than to be the best at everything we 

do … the best company to invest in, to work for, to buy from and sell to, to have as a corporate 

citizen in your community. We cannot realize this ambition without our actions being a 

demonstration of Corporate Social Responsibility.”184  

 

Travis Engen, responding to media questions after Alcan’s 2005 annual general meeting where

the CEO faced critical questions from Alcan’t in India members and independent journalists

regarding the company’s activities in India  – “When you stand for a certain point and talk about 

your aspirations, you’re held to the standard of what you just said. When you seem to be falling 

short, you’re then subject to criticism.”185

 

Milton Wong, Alcan Director – “I suggest that what we’ve been seeing is a convergence of 

certain values under the rubric of sustainability: social values, human values and environmental 

values. Taken together, they’re what I’ll refer to today as Corporate Social Responsibility. I think 

corporate social responsibility is the new direction in which the best-run companies are heading. 

It’s what people want.”186

Milton Wong – “Let’s be honest. The whole point of being in business is to make money.”187

Milton Wong“We live in a more skeptical, less trusting society than we did even as recently as 

50 years ago. People take nothing at face value anymore. It’s no longer good enough for 

corporations to say they’re doing a good job. They have to prove it. They have to show it. It has to 

be witnessed. Corporations have to be transparent enough in their actions that all of us can 

see it with our own eyes.”188

Milton Wong“no one wants to find out that a company whose shoes they wear is relying on 

child labour in another country. No one wants to find out a company is dumping toxic effluent into 

the river they grew up swimming in. No one wants to find out the person who picked the banana 

they ate for breakfast later gave birth to a baby with defects because of the pesticides used. 

When people find out things like this, they vote with their wallets. They give their business to 

companies who are better behaved.”189

Travis Engen“We know that we cannot succeed in doing what we exist to do — that is, make 

money — in an unsuccessful world. We cannot use the resources we depend on without careful 

stewardship. We cannot secure the skills and innovation we need in our people without 

progressive educational systems. We cannot offer the quality-of-life conditions that will attract and 

retain skilled workers and their families without healthy, economically viable communities. We 

cannot expect society to endorse our use of resources, such as water and minerals, 

unless society realizes tangible benefits from our use of these resources.”190  

184 

 Notes for an address by Travis Engen, Conférence de Montréal (Travis Engen), June 7, 2004, 

http://www.alcan.com/web/publishing.nsf/Content/Conf%C3%A9rence+de+Montr%C3%A9al+%28Travis+Engen%29 

185 

 Marotte, B., “Alcan comes under fire by activists”, The Globe and Mail, April 29, 2005

186 

 “Towards Sustainability: Rewriting the Script”, a speech by Milton K. Wong, Chair of HSBC Asset Management

(Canada) Inc., Chancellor, Simon Fraser University, Vancouver, B.C., Alcan Inc. Board Member, Presented to The World

Environment Centre and International Environment Forum North American Roundtable: “CSR: Building the Business

Model and the Business Case”, Montreal, Canada, October, 15, 2004,

http://www.alcan.com/web/publishing.nsf/Content/Towards+Sustainability%3A+Rewriting+the+Script

187 

 ibid

188 

 ibid

189 

 ibid

190 

 ibid

 41

Richard B. Evans, Executive Vice President, Alcan Inc. and President, Aluminum Fabrication –

In fact, I am convinced that the key to aluminum’s success in the future will depend heavily on 

how effectively we present the overall life-cycle message of our metal including its unique 

recyclability. If we don’t get that message across in a convincing fashion 

— steel, plastics and 

other competitors will attempt to divide and conquer by focusing on the negatives of a single step 

in the aluminum value chain, such as bauxite mining or smelting. If there is a successful model 

that we should try to emulate in promoting aluminum, I think It is that of the plastics industry — 

which focused a cooperative global effort on removing or pre-empting governmental barriers and 

used associations very effectively to this end — rather than attempting to create unsustainable 

value propositions. In my opinion this is the opportunity for our industry — and for the 

associations represented here… clearly position aluminum positively and accurately on the 

“sustainability map” — in the minds of investors, customers, employees, politicians, regulators 

and other stakeholders”191

191 

 Notes for an address by Richard B. Evans, Executive Vice President, Alcan Inc. and President, Aluminum Fabrication,

Europe at The International Aluminum Forum May 18, 2001,

http://www.alcan.com/web/publishing.nsf/Content/Aluminum+Opportunities+for+a+New+Era+or+The+Seven+Sirens+of+t 

he+Aluminum+Industry

 42

Appendix 2  

Alcan’s Subsidiaries and Related Companies as of February 15, 2005 

Alcan is the direct owner of the stock of each Subsidiary or Related Company, except where the

name is indented. Indentation signifies that the principal ownership by Alcan is through the

company under which the indentation is made; where there is additional ownership through

another company also listed below, that additional ownership is described in the end-note on

page 47. 

ALCAN INC. 

Subsidiaries, Related Companies, Etc. Organized 

Under The 

Laws Of

% Of Voting 

Shares Held 

By 

Immediate 

Owner

   3712001 CANADA INC. Canada  100.00

   9121-5988 QUÉBEC INC. Quebec  100.00

      ALCAN ALUMINIUM QUEBEC AND COMPANY, LIMITED PARTNERSHIP Quebec  99.00 (1)

   9121-5996 QUÉBEC INC. Quebec  100.00

   ALCAN-SPROSTONS LIMITED Jamaica  100.00

   ALCAN ADMINCO (2000) INC. Canada  100.00

   ALCAN ALESA TECHNOLOGIES LTD. Canada  100.00

   ALCAN ALUMINIO (AMÉRICA LATINA) INC. Canada  100.00

   ALCAN ASIA PACIFIC LIMITED Canada  100.00

      ALCAN HOLDINGS FINANCE LLC Delaware  100.00

   ALCAN CORPORATION Texas  100.00

      ALCAN ALUMINUM EXPORT, INC. Georgia  100.00

      ALCAN CONNECTICUT, INC. Connecticut  100.00

      ALCAN MANAGEMENT SERVICES USA INC. Ohio  100.00

      ALCAN PECHINEY CORPORATION Texas  100.00

         PECHINEY CORK & SEAL OF CALIFORNIA, LLC California  100.00

         PECHINEY METALS LLC Delaware  100.00

            HOWMET INSURANCE COMPANY, INC. Vermont  100.00

            PECHINEY PLASTIC PACKAGING TEXAS, INC. Delaware  100.00

               CEBAL MEXICANA LP Texas  99.00 (27)

            PECHINEY PLASTIC PACKAGING, INC. Delaware  100.00

               GUARDIAN PLASTICOTE LIMITED India  17.00

               PECHINEY PLASTIC PACKAGING RECEIVABLES CORPORATION Delaware  100.00

               PECHINEY PLASTIC PACKAGING (CANADA) INC. Ontario  100.00

               VENTURE PACKAGING, INC. North Carolina  100.00

            PECHINEY ROLLED PRODUCTS, LLC Delaware  100.00

               PECHINEY CAST PLATE, INC. Delaware  100.00

            PECHINEY WORLD TRADE (USA), INC. New York  92.88 (59)

               BRANDEIS SERVICES, INC. Delaware  100.00

               PECHINEY BÉCANCOUR, INC. Delaware  100.00

                  PECHINEY REYNOLDS QUEBEC INC. Nebraska  50.25

                     ALUMINERIE DE BÉCANCOUR, INC. Quebec  50.10

                  PECHINEY SALES CORPORATION Delaware  100.00

               PECHINEY CANADA, INC. Canada  100.00

               PECHINEY HOLDINGS, INC. Delaware  100.00

 43

               PECHINEY PERU Peru  98.00

            PMC LEASE COMPANY Delaware  100.00

            PRP PROPERTY & EQUIPMENT, LLC Illinois  100.00

         TECHPACK AMERICA LLC Delaware  100.00

            HENLOPEN MANUFACTURING CO. INC. New York  100.00

               COSMETECH MABLY INTERNATIONAL, LLC New York  100.00

                  COSMETECH MABLY INTERNATIONAL (H.K.) LTD. Hong Kong  51.00

               CT PACK, LLC New York  100.00

            TECHPACK AMERICA COSMETIC PACKAGING, L.P. Texas  99.50 (78)

            TECHPACK LATIN AMERICA S.A. Venezuela  100.00

            TPI MEXICANA S.A. De C.V. Mexico  99.98 (80)

            TPI MOLPLASTIC Ltda Brazil  100.00

            TPI PLASTIMEC S.A. Argentina  51.00

      ALCAN POWER MARKETING, INC. Ohio  100.00

      ALCAN PRIMARY PRODUCTS CORPORATION Texas  100.00

      ALCAN PRODUCTS CORPORATION Texas  100.00

         ALCAN BALTEK CORPORATION Delaware  100.00

            BALSA DEVELOPMENT CORPORATION New Jersey  100.00

            BALSA ECUADOR LUMBER CORPORATION New Jersey  100.00

            BALTEK FOREIGN SALES CORPORATION US Virgin Islands  100.00

            BALTEK INTERNATIONAL CORPORATION Delaware  100.00

            BALTEK LIMITED England  100.00

               PACIFIC TIMBER LIMITED England  100.00

            BALTEK MERCOSUR, L.L.C. New Jersey  100.00

            COMPANIA ECUATORIANA DE BALSA S.A. Ecuador  100.00

            CRUSTACEA CORPORATION Delaware  100.00

            CRYOGENIC STRUCTURES CORPORATION Delaware  94.00

            PLANTATIONES DE BALSA S.A. Ecuador  49.90 (60)

(61) (62) (63)

               POUCNST S.A. Ecuador  100.00

            PRODUCTOS DEL PACIFICO S.A. Ecuador  100.00

               BALMANTA S.A. Ecuador  67.93 (25)

               MADERAS SECAS C.A.  Ecuador  57.08 (52)

(53)

            SANLAM CORPORATION New York  100.00

   ALCAN EUROPE LIMITED England  100.00

   ALCAN FINANCES B.V. The Netherlands  100.00

   

   ALCAN FINANCES (Bda) LTD. Bermuda  100.00

      ALCAN ASIA LIMITED Hong Kong  100.00

      ALCAN NIKKEI CHINA LIMITED Hong Kong  49.00

      ALCAN NINGXIA HOLDINGS LIMITED Bermuda  100.00

         ALCAN NINGXIA ALUMINIUM  COMPANY LIMITED China  50.00

      ALCAN PACKAGING MALAYSIA SDN BHD Malaysia  100.00

      ALCAN PACKAGING PUERTO RICO INC. New Jersey  100.00

      ALCAN (BERMUDA) LIMITED Bermuda  100.00

         ALCAN SHIPPING (BERMUDA) LIMITED Bermuda  100.00

      CHAMPLAIN INSURANCE COMPANY LTD. Bermuda  100.00

      HALCO (MINING) INC. Delaware  34.53 (49)

         BOKÉ INVESTMENT COMPANY Delaware  100.00

           COMPAGNIE DES BAUXITES DE GUINÉE Delaware  51.00

      NONFEMET INTERNATIONAL (China-Canada-Japan) ALUMINIUM

COMPANY LIMITED China  27.00

      QUADREM INTERNATIONAL HOLDINGS,  LTD. Bermuda  9.02 (66)

   ALCAN FINANCES (IRELAND) LIMITED Canada  100.00

      ALCAN ALUMINIUM AG Switzerland  100.00

         ALCAN PACKAGING RORSCHACH AG Switzerland  100.00

      ALCAN HOLDINGS CANADA LIMITED Canada  100.00

         ALCAN FINANCES (IRELAND) COMPANY Ireland  100.00

         ALCAN HOLDINGS AUSTRALIA PTY LIMITED Australia  100.00

         ALCAN SOUTH PACIFIC PTY LTD Australia  100.00

 44

            ALCAN GOVE DEVELOPMENT PTY LIMITED Australia  100.00

            ALCAN NORTHERN TERRITORY ALUMINA PTY LIMITED Australia  100.00

               GOVE ALUMINIUM LIMITED Australia  100.00

                  ALCAN GOVE PTY LIMITED Australia  50.00 (5)

            ALCAN QUEENSLAND SMELTER PTY LTD Australia  100.00

            NABALCO PTY LIMITED Australia  100.00

            QUEENSLAND ALUMINA LIMITED Australia  21.39 (67)

            QUEENSLAND ALUMINA SECURITY CORPORATION Delaware  20.00

            TRANS TERRITORY PIPELINE PTY LIMITED Australia  100.00

   

   ALCAN HOLDING ITALIA S.P.A. Italy  100.00

      ALCAN PACKAGING ITALIA S.R.L. Italy  89.00 (11)

      Bp EUROPACK S.R.L. Italy  100.00

   ALCAN HOLDINGS SWITZERLAND AG (SA/LTD.) Switzerland  100.00

      AL HOLDING  USA LLC Delaware  100.00

         ALA (NEVADA) INC. Nevada  100.00

         ALCAN COMPOSITES USA INC. Missouri  100.00

            ALCAN GATOR-COR HOLDINGS, LLC Delaware  59.44 (3) (4)

               ALCAN GATOR-COR COMPANY, LLC Delaware  100.00

                  NEVAMAR FINANCING, LLC Delaware  100.00

            NEVAMAR OFFSHORE ACQUISITION CORPORATION Delaware  100.00

            NEVAMAR TE ACQUISITION CORPORATION Delaware  100.00

         ALCAN GLOBAL PHARMACEUTICAL PACKAGING INC. New Jersey  100.00

            HBE FERMENTATION SYSTEMS INC. California  10.00

            INTERNATIONAL GLASS EQUIPMENT LTD. Bahamas  100.00

            POLAR MATERIALS INC. Pennsylvania  86.21

               PC MATERIALS INC. Pennsylvania  50.00

               POLYPLASMA INC. Canada  100.00

         ALCAN PACKAGING FOOD AND TOBACCO INC. Delaware  100.00

         ALCAN PACKAGING PHARMA CENTER INC. Delaware  100.00

         ALCAN PACKAGING THERMAPLATE INC. New Jersey  100.00

         ALUSUISSE ALUMINUM USA INC. Delaware  100.00

         VAW FLEXIBLE PACKAGING INC. Delaware  100.00

      ALCAN AIREX AG Switzerland  100.00

      ALCAN ALESA ENGINEERING AG Switzerland  100.00

      ALCAN ALLEGA AG Switzerland  100.00

      ALCAN ALUCOBOND (FAR EAST) PTE LTD. Singapore  100.00

      ALCAN ALUMINIO ESPAÑA, S.A. Spain  100.00

         ALCAN ALUMINIO PORTUGAL LDA. Portugal  98.00

      ALCAN ALUMINIUM VALAIS SA Switzerland  100.00

      ALCAN AUSTRIA Gmbh Austria  100.00

         ALCAN ALPE ADRIA D.O.O. Slovenia  100.00

         ALCAN HUNGARIA Kft. Hungary  100.00

            ALCAN ROMANIA SRL. Romania  100.00

      ALCAN CAPITAL JERSEY LIMITED The Island Of

Jersey  100.00

         ALCAN FINANCE JERSEY LIMITED The Island Of

Jersey  100.00

      ALCAN DÉCIN EXTRUSIONS S.R.O. Czech Republic  100.00

      ALCAN HOLDINGS EUROPE B.V. The Netherlands  100.00

         A-L FINANCIAL PRODUCTS LTD. England  100.00

         ALCAN DISTRIBUZIONE Srl Italy  100.00

         ALCAN HOLDINGS FRANCE S.A. France  100.00

            ALCAN CMIC SAS France  100.00

            ALCAN FRANCE EXTRUSIONS SAS France  100.00

            ALCAN PACKAGING FRANCE SAS France  100.00

            ALCAN PACKAGING GLASS PHARMA France  100.00

            ALCAN PACKAGING SAINT MAUR France  100.00

               CIVILE IMMOBILIÈRE CELI France  99.50 (32)

            ALCAN PACKAGING SARREBOURG SAS France  100.00

            LAWSON MARDON TRENTESAUX SA France  99.99

            SOCIÉTÉ ALSACIENNE D’ALUMINIUM France  100.00

 45

            VAW INTERNATIONAL CAPSULES S.A. France  100.00

         ALCAN HOLDINGS GERMANY Gmbh Germany  99.24 (7)

            ALCAN AUTOMOTIVE KAMENICE S.R.O. Czech Republic  100.00

            ALCAN BDW BETEILIGUNGS Gmbh Germany  100.00

            ALCAN BDW Gmbh & CO. KG Germany  100.00

            ALCAN COMPOSITES LTD, SHANGHAI China  100.00

            ALCAN KAPA Gmbh Germany  100.00

            ALCAN PACKAGING NEUMUNSTER Gmbh Germany  100.00

               ALCAN PACKAGING SINGEN Gmbh Germany  99.90 (12)

                  TSCHEULIN-ROTHAL Gmbh Germany  97.17

                     ALCAN PACKAGING MOSKAU OOO  Russia  100.00

            ALCAN SINGEN Gmbh Germany  100.00

               CONSORTIUM STROJMETAL A.S. KAMENICE & ALCAN SINGEN

Gmbh (Unincorporated) Czech Republic  50.00

            ALCAN TOMOS D.O.O. Slovenia  66.66

            ALMET AG Germany  63.64

         ALCAN HOLDINGS NEDERLAND B.V. The Netherlands  100.00

            ALCAN NEDERLAND B.V. The Netherlands  100.00

               S.A. ALCAN BELGIUM N.V. Belgium  99.37 (77)

            ALCAN PACKAGING AMSTERDAM BV The Netherlands  100.00

            ALCAN PACKAGING BRABANT BV The Netherlands  100.00

            ALCAN PACKAGING ZUTPHEN BV The Netherlands  100.00

            ALU-VASTGOED B.V. The Netherlands  100.00

            ALUMINIUM & CHEMIE ROTTERDAM B.V. The Netherlands  53.30 (24)

         ALCAN HOLDINGS UK LIMITED England  100.00

            ALCAN PACKAGING CRAMLINGTON LTD. England  100.00

            LAWSON MARDON PACKAGING LTD. England  100.00

               ALCAN PACKAGING UK LTD England  100.00

                  KOTERS (LIVERPOOL) LIMITED England  100.00

                  LAWSON MARDON FIBRENYLE LTD. England  100.00

                     FIBRENYLE (CORBY) LIMITED England  100.00

                  LAWSON MARDON FLEXIBLE LIMITED England  100.00

                     MARDON FLEXIBLE PACKAGING (KENTON) LIMITED England  100.00

                  LAWSON MARDON SMITH BROTHERS LTD. England  100.00

                     ALCAN PACKAGING SUTTON LTD. England  100.00

                        MARDON PELOREX LIMITED England  100.00

                  LMG IRIDON LIMITED England  100.00

                     LAWSON MARDON THERMOPLASTICS LTD. England  100.00

                  WHEATON UK LTD. England  100.00

                     LAWSON MARDON NORTHERN LIMITED England  100.00

                     LAWSON MARDON READING LTD. England  100.00

                     STALCON PLASTICS LIMITED England  100.00

               ALCAN PACKAGING (UK SALES) LTD. England  100.00

               HEADLEY (READING) LIMITED England  100.00

                  CELLOGLAS HOLDINGS LTD. England  100.00

                     ALCAN PRINT FINISHERS LTD. England  100.00

                        FIVE STAR CORPORATION LIMITED England  100.00

                        PROTECTA PRINT LIMITED England  100.00

                        QUALICOAT LIMITED England  100.00

                        UNIVERSAL COATINGS LIMITED England  100.00

                        WEST MIDLANDS FOIL BLOCKING LIMITED England  100.00

                     LUSTRETEX LTD. England  100.00

                     THE UV COMPANY LIMITED England  100.00

                     UVIPAK (FINISHING) LIMITED England  100.00

               LAWSON MARDON GROUP INTERNATIONAL LIMITED England  100.00

                  ALCAN PACKAGING IZMIR GRAVUR BASKILI KARTON SANAYI VE

TICARET A.S. Turkey  100.00

                  ALCAN PACKAGING KAZAKHSTAN LLP Kazakhstan  100.00

                  ROTOPAK MATBAACILIK AMBALAJ SANAYI VE TICARET A.S. Turkey  100.00

                  ROTOPAS AMBALAJ PAZARLAMA VE DAGITIM A.S. Turkey  100.00

               VAW EUROPACK IBERICA, S.L. Spain  100.00

            LAWSON MARDON PACKAGING SALES LTD. England  100.00

         ALCAN JAPAN LTD. Japan  100.00

 46

         ALCAN PRODOTTI SPECIALI Spa Italy  100.00

         LMG (IRELAND) LIMITED Ireland  100.00

            ALCAN PACKAGING DUBLIN LTD Ireland  100.00

            WCL FLEXIBLE PACKAGING LIMITED Ireland  100.00

         VERAMIC S.A. Belgium  100.00

         WAXED CARTONS (EXPORT) LIMITED Ireland  100.00

         ZITELI LIMITED Ireland  100.00

      ALCAN HOLDINGS INVESTMENT LLC Delaware  100.00

      ALCAN ICELAND LTD. Iceland  100.00

         ENDURVINNSLAN LTD. Iceland  7.00

      ALCAN MASS TRANSPORTATION SYSTEMS AUSTRALIA PTY. LTD. Australia  100.00

      ALCAN PACKAGING CANADA LIMITED Ontario  100.00

         LAWSON MARDON PACKAGING OVERSEAS (BRISTOL) LIMITED England  99.00 (51)

      ALCAN PACKAGING KREUZLINGEN AG (SA/LTD.) Switzerland  100.00

      ALCAN PACKAGING SERVICES AG (SA/LTD.) Switzerland  100.00

      ALCAN TECHNOLOGY & MANAGEMENT AG (SA/LTD.) Switzerland  100.00

      ALCAN TRADING AG (SA/LTD.) Switzerland  100.00

      ALUFLUOR AB Sweden  50.00

      ALUSUISSE OF AUSTRALIA LIMITED Australia  100.00

         ALCAN ENGINEERING PTY LIMITED Australia  100.00

         SWISS ALUMINIUM AUSTRALIA LIMITED Australia  100.00

            GOVE JOINT VENTURE (THE) Australia  70.00 (48)

      ALUSUISSE SERVICIOS S.A., Panama Panama  100.00

         ALUSUISSE SERVICIOS S.A., Venezuela Venezuela  100.00

      IGORA-GENOSSENSCHAFT FUR ALUMINIUM-RECYCLING Switzerland  5.60

      METALLICA S.A. Switzerland  35.00

      METALLWERKE REFONDA AG Switzerland  100.00

      SOCIÉTÉ MINIÈRE ET DE PARTICIPATIONS GUINÉE-ALUSUISSE Guinea   50.00

      SOR-NORGE ALUMINIUM AS Norway  50.00

   ALCAN HOLDINGS (THAILAND) LIMITED Thailand  100.00

   ALCAN INTERNATIONAL LIMITED  Canada  100.00

   ALCAN MANAGEMENT SERVICES CANADA LIMITED  Canada  100.00

   

   ALCAN PACKAGING  PROPACK CO. LIMITED Hong Kong  65.00

      ALCAN PROPACK CHENGDU CO LTD China  40.00

      EVERWEAL INTERNATIONAL LIMITED Hong Kong  100.00

      HUIZHOU PROPACK PLASTIC LIMITED China  100.00

      JIANGYIN PROPACK ADVANCED PACKING CO., LIMITED China  100.00

      JIANGYIN PROPACK PACKING CO., LIMITED China  99.05

      PROPACK HUIZHOU LIMITED China  73.47 (64)

      PROPACK HUIZHOU NEW MATERIAL CO LTD China  100.00

      VPS PROPACK BEIJING CO., LTD. China  55.00 (82)

   ALCAN PACKAGING STARPACK CORPORATION Philippines  100.00

      SPC REALTY CORPORATION Philippines  40.00

   ALCAN PACKAGING STRONGPACK PUBLIC COMPANY LIMITED Thailand  49.00 (13)

      ALCAN PACKAGING STRONGTHAIPACK COMPANY LIMITED Thailand  100.00

   ALCAN PARTICIPAÇÕES LTDA. Brazil  100.00

      ALCAN ALUMINA LTDA. Brazil  100.00

         CONSÓRCIO DE ALUMÍNIO DO MARANHÃO (“CONSÓRCIO ALUMAR”) Brazil  10.00

      ALCAN COMPOSITES BRASIL S.A. Brazil  70.00

      ALCAN EMBALAGENS DO BRASIL LTDA. Brazil  100.00

      ALCAN PACKAGING DO BRASIL LTDA. Brazil  83.00 (10)

      MINERAÇÃO RIO DO NORTE S.A. Brazil  12.50

   ALCAN REALTY LIMITED Canada  100.00

   ALCAN SHIPPING SERVICES LIMITED Canada  100.00

   ALCAN SMELTERS AND CHEMICALS LIMITED Canada  100.00

   ALUMINERIE ALOUETTE INC. Quebec  20.00 (16)

   

 47

   ALUMINUM COMPANY OF CANADA LIMITED Canada  100.00

      ALCAN FINANCES USA LLC Delaware  100.00

   BRITISH ALCAN ALUMINIUM Plc England  100.00

      ALCAN CHEMICALS EUROPE LIMITED England  100.00

      ALCAN CHEMICALS LIMITED England  100.00

      ALCAN FARMS LIMITED England  100.00

      TBAC LIMITED England  100.00

         ALCAN ALUMINIUM UK LIMITED England  85.00 (2)

         BRITISH ALCAN OVERSEAS INVESTMENTS LIMITED England  100.00

            SARATOGA RESOURCES N.V. Netherland

Antilles  20.00

            VIGELAND METAL REFINERY A/S Norway  50.00

         GHANA BAUXITE COMPANY LIMITED Ghana  80.00

         VIGELANDS BRUG A/S Norway  100.00

      THE BOWLING BACK LAND COMPANY LIMITED England  50.00

   PECHINEY France  100.00

      ALCAN ALPHA 2004 France  99.76

      ALCAN BETA 2004 France  100.00

      ALCAN CENTRE DE RECHERCHES DE VOREPPE France  100.00

      ALCAN DELTA 2004 France  100.00

      ALCAN EPSILON 2004 France  100.00

      ALCAN GAMMA 2004 France  100.00

      ALUMINIUM DUNKERQUE S.A. France  100.00

      ALUMINIUM PECHINEY France  98.75 (20)

         AFFIMET France  100.00

         ALUCAM – COMPAGNIE CAMEROUNAISE DE L’ALUMINIUM Cameroun  46.67

            ALUBASSA Cameroun  70.09 (14)

            ALUCONGO Congo  55.86 (15)

            CENTRE MÉDICAL DES ENTREPRISES DE LA SANAGA Cameroun  74.89 (30)

(31)

            COLALU Centre Africa  57.35 (33)

            HOSTELLERIE DE LA SANAGA Cameroun  67.50

            SOCATRAL – SOCIÉTÉ CAMEROUNAISE DE TRANSFORMATION DE

L’ALUMINIUM Cameroun  52.55 (68)

            SOTRALGA – SOCIÉTÉ DE TRANSFORMATION DE L’ALUMINIUM AU

GABON Gabon  38.33 (75)

         ALUMINIUM PECHINEY SERVICE France  99.36 (22)

         ALUMINIUM PECHINEY SPV France  99.96 (23)

         ALUMINIUM PECHINEY UO 5 France  100.00

         BAOTOU PECHINEY AND BAOLU HIGH PURITY ALUMINIUM COMPANY

LIMITED China  51.00

         CIE IVOIRIENNE DE L’ALUMINIUM   (IVOIRAL) Ivory Coast  10.00

         ÉLECTRIFICATION CHARPENTE LEVAGE – E.C.L. France  100.00

            ECL SCES AFRICA ENGINEERING  South Africa  100.00

            ECL SERVICES MIDDLE EAST W.L.L. Bahrain  90.00 (37)

            ECL SERVICES NL BV The Netherlands  100.00

            ECL SERVICES PTY LIMITED Australia  100.00

            ECL SERVICES, INC. Quebec  100.00

            ECL SERVICOS LIMITADA Mozambique  85.71 (38)

            ECL SHANGHAI China  100.00

         PECHINEY ALUMINA RESOURCES INDIA PRIVATE LTD India  100.00

         PECHINEY PHILIPPINES INC Philippines  99.99

         PECHINEY TECHNOLOGY LTD. Quebec  100.00

         PECHINEY VÉNÉZUELA, S.A. Venezuela  100.00

            PECHINEY SERVICIOS Venezuela  100.00

         PEM ABRASIFS-RÉFRACTAIRES France  100.00

         SOCIÉTÉ FINANCIÈRE POUR LE DÉVELOPPEMENT DE L’ALUMINIUM

S.F.D.A. France  100.00

            ALUMINIUM DE GRÈCE S.A.I.C. Greece  41.10 (17)

(18)

               DELPHES & DISTOMON (SOCIÉTÉ MINIÈRE DE) Greece  99.98

         SOCIÉTÉ IMMOBILIÈRE ALPES PROVENCE – SIAP France  89.44 (73)

 48

         SOCIÉTÉ MAURIENNAISE DE TRANSFORMATION – S M T France  100.00

         SOCIÉTÉ MINIÈRE DES BAUX France  99.90

         SOCIÉTÉ POUR LE DÉVELOPPEMENT DE L’AFRIQUE CENTRALE ET

DE L’OUEST

– SODAFE France  62.85 (74)

      BRANDEIS (BROKERS) LIMITED England  100.00

      CARBONE SAVOIE France  30.00

         CARBONE SAVOIE BRAZIL HOLDING SA Brazil  97.87

            CARBONE SAVOIE BRAZIL SA Brazil  99.98

      COMPAGNIE GÉNÉRALE D’ÉLECTROLYSE DU PALAIS France  100.00

         FONDERIE DE CUIVRE DU PALAIS France  100.00

      COMPAGNIE GÉNÉRALE DE PARTICIPATION INDUSTRIELLE ET

FINANCIÈRE France  100.00

         CEBAL AMERICA RECURSOS HUMANOS S. De R.L. De C.V Mexico  99.00

         CEBAL AMERICAS DE REYNOSA S. De R.L. De C.V. Mexico  99.00

         CEBAL BRASIL LIMITADA Brazil  100.00

         CEPILLOS DE MATAMOROS, S.A. De C.V. Mexico  100.00

         EMIROLL United Arab

Emirates  30.00

         ENVARIL PLASTIC PACKAGING S.R.L. Argentina  100.00

            ENVARIL PLASTIC PACKAGING URUGUAY SA Uruguay  100.00

         NOVACEL S.A. DE C.V. Mexico  100.00

            CELPLY S.A. DE C.V. Mexico  100.00

         PECHINEY BRIDLICNA S.R.O. Czech Republic  100.00

         PECHINEY HOLDINGS UK LTD England  100.00

            ALCAN INTERNATIONAL NETWORK UK LIMITED England  100.00

               ALCAN INTERNATIONAL NETWORK  LIMITED England  100.00

               ALCAN INTERNATIONAL NETWORK GULF LIMITED England  100.00

               ALUMINIUM PECHINEY (UK) LIMITED England  100.00

               PECHINEY UK LIMITED England  100.00

            BRANDEIS LIMITED England  100.00

            CEBAL UK LTD England  100.00

            FEEP HOLDINGS UK LIMITED England  100.00

               PET PLAS PACKAGING LIMITED England  100.00

            KENPAK (EUROPE) LIMITED England  100.00

            PECHINEY AVIATUBE LTD. England  100.00

            PECHINEY CEBAL PACKAGING LTD England  100.00

            PECHINEY TRADING LIMITED England  100.00

            TECHPACK (UK) LIMITED England  100.00

      DEUTSCHE ALUMINIUM VERPACKUNG RECYCLING Gmbh Germany  16.67 (36)

      FINANCIÈRE EUROPÉENNE D’EMBALLAGES PECHINEY France  100.00

         ALCAN PACKAGING SKRIVANY S.R.O. Czech Republic  100.00

         CEBAL S.A.S. France  97.94 (29)

            CEBAL AÉROSOL FRANCE France  100.00

            CEBAL CR, A.S. Czech Republic  99.45

            CEBAL ITALIANA SPA Italy  99.87

               CEBAL MINMETAL S.R.L. Italy  99.67 (28)

            CEBAL MEXICO Mexico  100.00

            CEBAL SVENSKA AB  Sweden  100.00

            CEBAL TUBA SP ZO.O. Poland  80.00

            CEBAL ZHONGSHAN CO. LTD China  60.00

            COPAL SAS France  51.00

            COTUPLAS France  76.96 (35)

            PECHINEY MANUFACTURE MAROCAINE D’ALUMINIUM

– M.M.A. Morocco  49.39 (56)

               AL WIFAQ 5 Morocco  99.95

               SOCIÉTÉ MÉTALLURGIQUE DE MOHAMMEDIA – S.M.M. Morocco  79.00

            SOCIÉTÉ MANUFACTURE MAROCAINE DE MOHAMMEDIA – S.M.M.M. Morocco  99.94

         CEBAL VERPACKUNGEN Gmbh Germany  100.00

            CEBALSOL S.R.O. Czech Republic  100.00

         DANAFLEX PACKAGING CORPORATION LIMITED New Zealand  100.00

         PECHINEY BOUTEILLES PLASTIQUES  France  100.00

         PECHINEY CAPSULES France  100.00

            PECHINEY CAPALUX INC. Canada  100.00

               INVERSIONES PECHINEY CHILE LIMITADA Chile  99.99 (50)

 49

                  ENOCAP CHILE S.A. Chile  100.00

         PECHINEY CELOGRAF S.L. Spain  100.00

            ALCAN PACKAGING ALZIRA SAU Spain  100.00

            CEBAL ENTEC S.A. Spain  100.00

            INDUSTRIAS METALICAS CASTELLO S.A. Spain  100.00

               PRECIS, S.A. Spain  100.00

            PECHINEY ESPANA, S.A. Spain  100.00

            POLIBOL S.A. Spain  100.00

               GUARDIAN ESPANOLA S.A. Spain  100.00

            SOPLARIL Portugal Portugal  99.99

         PECHINEY EMBALLAGE FLEXIBLE EUROPE France  100.00

            ALCAN LEBENSMITTEL VERPACKUNGEN Gmbh Germany  100.00

               ALUFIN Gmbh TABULAROXID Germany  100.00

               PECHINEY SCHEUCH BETRIEBS-UND VERWALTUNGS Gmbh Germany  100.00

               PECHINEY SCHEUCH Gmbh & Co KG Germany  100.00

                  SCHEUCH UNTERSTUTZUNGSKASSE Gmbh Germany  100.00

         SOCIÉTÉ DE FINANCEMENT DES RISQUES INDUSTRIELS – SOFIRI Luxembourg  90.00 (72)

         SOPLARIL France  100.00

            AVENIR PRINT SERVICE France  100.00

            SOPLARIL ITALIA S.P.A. Italy  100.00

      FINANCIÈRE TECHPACK France  100.00

         TECHPACK INTERNATIONAL  France  99.99

            AIRLESSYSTEMS France  50.00

            BENSON SRL Italy  100.00

            COSMETECH MABLY EUROPE France  85.47 (34)

            DECOPLAST France  99.91

            LAFFON SPA Italy  100.00

            LIR France France  100.00

            MT PACKAGING France  100.00

            NOVELIS DISTRIBUTIONS AG Switzerland  100.00

            PT TECHPACK ASIA Indonesia  95.00

            SFG – SOCIÉTÉ FRANÇAISE DE GALVANOPLASTIE France  100.00

            TECHPACK DEUTSCHLAND Gmbh Germany  100.00

            TECHPACK FINANCEMENT France  100.00

      FRANCE ALUMINIUM RECYCLAGE SA France  39.99 (39)

         INTERFILIÈRES MATÉRIAUX France  20.00

      GIE – PECHINEY RECHERCHE France  92.00 (40)

(41) (42) (43)

(44) (45) (46)

(47)

      INVESTRIA France  98.74

      PECHINEY CONSOLIDATED AUSTRALIA PTY LIMITED Australia  55.52 (54)

         ALCAN PRIMARY METAL AUSTRALIA (PTY) LTD Australia  100.00

            ALUMINIUM PECHINEY HOLDINGS PTY LTD Australia  99.00 (21)

            JOHCATH HOLDINGS PTY LIMITED Australia  100.00

               CATHJOH HOLDINGS PTY LIMITED Australia  50.00 (26)

            PECHINEY RESOURCES PTY, LIMITED Australia  100.00

               PECHINEY AUSTRALU PTY LIMITED Australia  100.00

            TOMAGO ALUMINIUM COMPANY PTY LTD Australia  50.00

            TOMAGO ALUMINIUM JOINT-VENTURE Australia  36.05 (79)

      PECHINEY ÉLECTROMÉTALLURGIE France  100.00

         INVENSIL France  100.00

            INVENSIL FREE STATE (Pty) LTD South Africa  100.00

            SILICON SMELTERS (Pty) Ltd South Africa  100.00

            VAAL SILICON SMELTERS (Pty) LTD South Africa  74.90

         SOCIÉTÉ DE PRODUITS INDUSTRIELS DU RHÔNE France  99.94

      PECHINEY KHI 99 France  99.76 (55)

      PECHINEY MANHATTAN France  100.00

         SAVOIE SERVICE Y.K. Japan  100.00

      PECHINEY NEDERLAND, N.V. Netherlands  100.00

         PECHINEY NEDERLANDS & CO ALUMINIUM PRODUCTIE BEDRIEJF,

C.V. The Netherlands  85.00

      PECHINEY PHI 2000 France  100.00

 50

      PECHINEY RHENALU France  100.00

         ALCAN ALUMINIUM-PRESSWERK GMBH Germany  100.00

            ALCAN ALUMINIUM-PRESSWERK BURG Gmbh Germany  100.00

            ALCAN ALUMINIUM-PRESSWERK PFALZ GMBH Germany  100.00

         ALMET France  100.00

         ALUMINIUM DU MAROC S.A. Morocco  15.69 (19)

         PECHINEY AVIATUBE France  100.00

         PECHINEY BÂTIMENT France  100.00

         PECHINEY SERVICES FINANCE France  46.53 (57)

(58)

         PECHINEY SOFTAL France  100.00

         RHENAROLL S.A. France  49.85

      PECHINEY WORLD TRADE S.A. France  100.00

         ALCAN HELLAS S.A. Greece  99.46 (6)

         ALCAN INTERNATIONAL NETWORK AUSTRALASIA (PTY) LIMITED Australia  100.00

           ALCAN INTERNATIONAL NETWORK BELGIUM S.A. Belgium  100.00

            ALMET BELGIUM SA Belgium  99.34

            DE CLEEN & VEREECKEN N.V. Belgium  99.60

         ALCAN INTERNATIONAL NETWORK DEUTSCHLAND Gmbh Germany  100.00

            COFRANEX Gesellschaft Für Industrielle Importe Und Dienstleistungen

Mbh Germany  100.00

         ALCAN INTERNATIONAL NETWORK EURASIA LLC Russian

Federation  100.00

         ALCAN INTERNATIONAL NETWORK HANDELSGESELLSCHAFT M.B.H.  Austria  100.00

         ALCAN INTERNATIONAL NETWORK ITALY Italy  99.99 (8)

            OXIMET SRL Italy  66.67

         ALCAN INTERNATIONAL NETWORK JAPAN Japan  100.00

         ALCAN INTERNATIONAL NETWORK NORDIC AS Denmark  100.00

         ALCAN INTERNATIONAL NETWORK PORTUGAL LDA Portugal  99.87 (9)

         ALCAN INTERNATIONAL NETWORK SA  (Pty) Ltd South Africa  100.00

         CHROMEX MINING CO (PTY) LIMITED South Africa  100.00

         PECHINEY APPROVISIONNEMENTS ALUMINE France  100.00

         PECHINEY A.I.M. France  100.00

         PECHINEY BRASIL LTDA Brazil  100.00

         PECHINEY CHILE LIMITADA Chile  99.00

         PECHINEY DIS TICARET LIMITED SIRKETI Turkey  99.99

         PECHINEY FAR EAST LIMITED Hong Kong  99.90

            PECHINEY (SHANGHAI) WORLD TRADE LTD China  100.00

         PECHINEY MEXICANA SA De CV Mexico  99.96

         PECHINEY NORGE A/S Norway  100.00

         PECHINEY SINGAPORE PTE LTD Singapore  100.00

         PECHINEY SVERIGE AB Sweden  100.00

         PECHINEY TAIWAN INC. Taiwan  99.92

         PECHINEY TRADING FRANCE France  100.00

         PECHINEY VERKOOP B.V. The Netherlands  100.00

         SEFRANEX DUBAI LTD England  100.00

         SEFRANEX France  100.00

         SOCIÉTÉ COMMERCIALE PECHINEY EGYPTE SAE Egypt  90.00 (69)

      QUIMICA E METALURGICA MEQUITAL LTDA    Brazil  100.00

      SATMA France  100.00

      SOCIÉTÉ D’ASSURANCE DE RISQUES INDUSTRIELS

– S.A.R.I. France  99.80 (70)

(71)

      SOCIÉTÉ D’ENTREPRISES, CARRIÈRES ET MINES DE L’ESTE 

REL –

S.E.C.M.E. France  100.00

      SOCIÉTÉ DE FINANCEMENT POUR AIDER À LA CONVERSION DANS LES

BASSINS

      D’EMPLOI DE PECHINEY

France  100.00

      SOCIÉTÉ DES FONDERIES D’USSEL France  100.00

      SOCIÉTÉ GÉNÉRALE DE RECHERCHES ET D’EXPLOITATIONS MINIÈRES

– SOGEREM France  100.00

      UGINA Morocco  99.92 (81)

   PT INTERKEMAS FLEXIPACK Indonesia  99.99 (65)

   SOCIÉTÉ DES ALUMINES ET BAUXITES DE PROVENCE SARL France  100.00

   SUBTANEE HOLDING COMPANY LIMITED Thailand  98.20 (76)

 51

      SANGTHIEN HOLDING COMPANY LIMITED Thailand  100.00

   THE ROBERVAL AND SAGUENAY RAILWAY COMPANY Quebec  100.00

   UTKAL ALUMINA INTERNATIONAL LIMITED India  45.00

 

 

Additional Ownership (%) Through The Following Subsidiaries

(1) 9121-5996 Québec Inc.  1.00 

(2) British Alcan Aluminium Plc  15.00 

(3) Nevamar Te Acquisition Corporation  37.69 

(4) Nevamar Offshore Acquisition Corporation  2.87 

(5) Swiss Aluminium Australia Limited  50.00 

(6) Sefranex  0.54 

(7) Alcan Holdings Switzerland Ag (Sa/Ltd.)  0.76 

(8) Pechiney A.I.M.  0.01                                                                                                                                                    

(9) Pechiney A.I.M.  0.13 

(10) Alcan Holdings Switzerland Ag (Sa/Ltd.)  17.00                                                                                                 

(11) Bp Europack S.R.L.  11.00                                                                                                                                             

(12) Alcan Singen Gmbh  0.10                                                                                                                                          

(13) Sangthien Holding Company Limited  25.61                                                                                                       

(14) Société Pour Le Développement De L’afrique Centrale Et De L’ouest

– Sodafe  12.64                             

(15) Société Pour Le Développement De L’afrique Centrale Et De L’ouest

– Sodafe  25.00                             

(16) Alcan Aluminium Quebec And Company, Limited Partnership  20.00                                                         

(17) Pechiney  10.00                                                                                                                                                           

(18) Aluminium Pechiney  9.08                                                                                                                                        

(19) Pechiney Manufacture Marocaine D’aluminium

– M.M.A.  5.97                                                                    

(20) Pechiney Rhenalu  1.25                                                                                                                                           

(21) Aluminium Pechiney  1.00                                                                                                                                        

(22) Financière Européenne D’emballages Pechiney 

  0.64                                                                                  

(23) Compagnie Générale De Participation Industrielle Et Financière  0.04                                                 

(24) Sor-Norge Aluminium As  10.50                                                                                                                              

(25) Compania Ecuatoriana De Balsa S.A.  32.07                                                                                                       

(26) Alcan Primary Metal Australia (Pty) Ltd  50.00                                                                                                 

(27) Pechiney Plastic Packaging, Inc.  1.00                                                                                                              

(28) Cebal S.A.S.  0.33                                                                                                                                                         

(29) Pechiney  2.06                                                                                                                                                             

(30) Hostellerie De La Sanaga  0.05                                                                                                                              

(31) Socatral – Société Camerounaise De Transformation De L’aluminium  0.07                                          

(32) Alcan Holdings France S.A.  0.50                                                                                                                         

(33) Société Pour Le Développement De L’afrique Centrale Et De L’ouest

– Sodafe  25.00                             

(34) Lir France  14.53                                                                                                                                                         

(35) Cebal Verpackungen Gmbh  5.00                                                                                                                          

(36) Alcan Holdings Germany Gmbh  16.67                                                                                                                 

(37) Ecl Services, Inc.  10.00                                                                                                                                           

(38) Ecl Sces Africa Engineering   14.29                                                                                                                    

(39) Alcan Holdings France S.A.  20.00                                                                                                                        

(40) Almet  1.00                                                                                                                                                                    

(41) Aluminium Pechiney  1.00                                                                                                                                        

(42) Pechiney Aviatube  1.00                                                                                                                                           

(43) Pechiney Électrométallurgie  1.00                                                                                                                    

(44) Pechiney Rhenalu  1.00                                                                                                                                           

(45) Pechiney Softal  1.00                                                                                                                                               

(46) Satma  1.00                                                                                                                                                                   

(47) Société Des Fonderies D’ussel 

  1.00                                                                                                                    

(48) Gove Aluminium Limited  30.00                                                                                                                                

(49) Aluminium Pechiney  10.47                                                                                                                                      

(50) Pechiney Cork & Seal Of California, Llc  0.01                                                                                                 

(51) Lawson Mardon Packaging Ltd.  1.00                                                                                                                  

(52) Compania Ecuatoriana De Balsa S.A.  41.67                                                                                                       

(53) Balmanta S.A.  1.25                                                                                                                                                     

(54) Pechiney Holdings, Inc.  44.48                                                                                                                               

(55) Compagnie Générale De Participation Industrielle Et Financière  0.04                                                 

(56) Société Manufacture Marocaine De Mohammedia – S.M.M.M.  13.45                                                           

(57) Aluminium Pechiney  45.63                                                                                                                                      

(58) Alcan Centre De Recherches De Voreppe  7.84                                                                                              

(59) Compagnie Générale De Participation Industrielle Et Financière  7.12                                                 

(60) Balmanta S.A.  20.01                                                                                                                                                   

(61) Compania Ecuatoriana De Balsa S.A.  10.03                                                                                                       

(62) Productos Del Pacifico S.A.  10.03                                                                                                                       

(63) Maderas Secas C.A.   10.03                                                                                                                                      

(64) Everweal International Limited  23.65                                                                                                                 

(65) Aluminum Company Of Canada Limited  0.01                                                                                                      

(66) Compagnie Générale De Participation Industrielle Et Financière  6.01                                                 

(67) Pechiney Resources Pty, Limited  20.00                                                                                                              

(68) Aluminium Pechiney  5.44                                                                                                                                        

(69) Sefranex  10.00                                                                                                                                                           

(70) Financière Européenne D’emballages Pechiney 

  0.03                                                                                  

(71) Compagnie Générale De Participation Industrielle Et Financière  0.03                                                 

(72) Compagnie Générale De Participation Industrielle Et Financière  10.00                                               

(73) Pechiney  10.56                                                                                                                                                           

(74) Ugina  1.95                                                                                                                                                                    

(75) Société Pour Le Développement De L’afrique Centrale Et De L’ouest

– Sodafe  25.00                             

(76) Alcan Holdings (Thailand) Limited  1.80                                                                                                               

(77) Alcan Holdings Switzerland Ag (Sa/Ltd.)  0.62                                                                                                   

(78) Henlopen Manufacturing Co. Inc.  0.50                                                                                                            

(79) Cathjoh Holdings Pty Limited  15.50                                                                                                                     

(80) Henlopen Manufacturing Co. Inc.  0.02                                                                                                            

(81) Société Générale De Recherches Et D’exploitations Minières

– Sogerem  0.02                                       

(82) Alcan Inc.  20.00

2 thoughts on “Can Alcan claim to be the best?

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