The Canadian-based company intends to pursue a spin-off of substantially all of the rolled products businesses prior to its acquisition of the Pechiney company.
The proposed distribution will create the world's largest aluminum rolled products company, which is to be named later.
The new company will have revenues of over $6 billion in the United States with leading market positions on four continents.
Alcan is one of two associate owners of the corporate island known as Logan Aluminum at Epley Station. The other is ARCO Metals.
Logan Aluminum was created to gain U.S. Justice Department approval and avoid creating a monopoly. That came about when Alcan was not able to buy all of ARCO Metals in the mid-80s. Instead, Justice required an agreement that kept ARCO as a major partner.
When the 10-year period in the original consent decree ended, ARCO stayed on as a partner.
Two other plants in the new company announced this week are in Kentucky. They are the can recycling plant in Berea and the foil plant in Louisville. There are eight other North American locations.
Fifteen are in Europe, seven in South America and three in Asia.
Logan Aluminum, which is the world's leading supplier of can stock, is Logan County's largest employer with between 950 and 1,000 jobs.
All of the employees who are involved in the manufacturing operation- which is a large majority of the workforce- are officially Alcan employees, rather than being Logan Aluminum or ARCO
Logan Aluminum President Mike Harris said Thursday that he was to be involved in meetings that afternoon to learn more about how the move with affect his business.
The N-D&L will have more details when they become available.
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