26.11.2004: Meldung: Alcan: Restructuring at Nine European Sites

Alcan Inc. (NYSE, TSX: AL) announced today that it has begun consultations with employee representatives on a proposed restructuring involving nine of its European sites. This intended measure is a result of changing market conditions and business realities.

"In the normal course of business, Alcan continually reviews its portfolio based on changing economic and market conditions," said Travis Engen, President and Chief Executive Officer of Alcan Inc. "This proposed restructuring is necessary to ensure Alcan"s competitiveness in the marketplace and to create favourable conditions for future growth and expansion. Maintaining competitiveness is the best insurance for long term sustainable employment," he added.
The proposed restructuring effort would include: (see appended fact sheet for details)
- the downsizing of four sites: Laffon in Italy, Kolin in the Czech Republic, Froges (pharmaceutical workshop) in France and Alcan Mass Transportation Systems (AMTS) business unit in Zurich, Switzerland;
- two potential sales: Mercus and Froges (high purity business) in France;
- three plant closures: Flemalle in Belgium, Cruseilles in France, Garbagnate in Italy.

In Europe, there will be a proposed reduction of approximately 520 jobs, partially offset by the expected creation of 40 new jobs in France and Switzerland, as well as other additional jobs in Italy. Alcan presently employs 46,000 people in Europe.

Alcan also confirms a (euro)22 million investment at its Issoire plant in France, scheduled for 2005-2006, in order to increase its plate production capacity by 10 percent for the aerospace industry. With the present and foreseeable long-term high demand for aluminum in the aerospace industry, Alcan has identified this investment as an excellent platform to grow its high value-added aerospace business.

Costs associated with this proposed restructuring, while not yet determined, are anticipated to be within the scope of the expected overall Pechiney integration costs.

Recently, Alcan completed the social plan consultation process for its Paris headquarters restructuring resulting from the combination with Pechiney. "The review of individual solutions for affected employees can now officially begin," said Jean-Dominique Senard, Chief Executive Officer of Pechiney. "Through continuous dialogue and discussions with employee representatives, the completion of these procedures will occur in a timely and respectful manner," he added.

Alcan is a multinational, market-driven company and a global leader in aluminum and packaging, as well as aluminum recycling. With world-class operations in primary aluminum, fabricated aluminum as well as flexible and specialty packaging, aerospace applications, bauxite mining and alumina processing, today"s Alcan is well positioned to meet and exceed its customers" needs for innovative solutions and service. Alcan employs 88,000 people and has operating facilities in 58 countries and regions.

Statements made which describe the Company"s intentions, expectations or predictions may be "forward-looking statements" within the meaning of securities laws. By their nature, forward-looking statements involve risk and uncertainty; the Company"s actual results could differ materially from those expressed or implied in such forward-looking statements.

European Restructuring Project Fact Sheet (by business group)

Engineered Products

Sites Intended Impact
--------------- ------------------------------------------

Mercus, France ---------- No job reductions. High-purity business
Potential Sale no longer considered a core operation.

--------------- ------------------------------------------

Froges, France ---------- No job reductions. High-purity business
Potential Sale no longer considered a core operation.

-------------- ------------------------------------------

AMTS, Zurich ---------- 70 job reductions out of 91.

-------------- ------------------------------------------


Sites Intended Impact
------------------ ------------------------------------------

Cruseilles, France -------- 94 job reductions. Production transfer
Closure within France would create 24 jobs.

------------------ ------------------------------------------

Garbagnate, Italy -------- 120 job reductions. Production transfer
Closure within Italy.

------------------ ------------------------------------------

Laffon, Italy -------- 30 job reductions out of 190. Production
Downsizing - production transfer to France and Spain.

------------------ ------------------------------------------

Kolin, Czech Republic ----- 60 job reductions out of 350. Aluminum
Downsizing - progressive tube production remains. Equipment
transfer of laminate transfer and production volumes to France.
tube production

------------------ ------------------------------------------

Froges, France -------- 35 job reductions out of 186. Pharma
Downsizing - production workshop closure; equipment transfer
transfer within France.

------------------ ------------------------------------------

Rolled Products

Sites Intended Impact
------------------ ------------------------------------------

Flemalle, Belgium -------- 100 job reductions.

------------------ ------------------------------------------

Quelle: Alcan Inc.

Alcan Inc.
Québec - Corporate Affairs
86, rue Saint-Louis
Québec (Québec) G1R 3Z5

Telephone number: 1 418 692 1331
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