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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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Filed by Alcan Inc. Further information Alcan has filed with the Securities and Exchange Commission a
registration statement to register the Alcan Common Shares to be issued in the
proposed transaction, including related tender/exchange offer materials.
Investors and Pechiney securityholders are urged to read the registration
statement and related tender/exchange offer materials (when available) and any
other relevant documents filed with the SEC, as well as any amendments or
supplements to those documents, because they contain important information.
Investors and Pechiney securityholders may obtain a free copy of the
registration statement and related tender/exchange offer materials (when
available) and other relevant documents at the SEC's Internet web site at
www.sec.gov and Pechiney securityholders will receive information at an
appropriate time on how to obtain transaction-related documents for free from
Alcan. This communication is for informational purposes only. It
shall not constitute an offer to purchase or buy or the solicitation of an offer
to sell or exchange any securities of Pechiney, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such jurisdiction. The solicitation of offers to buy Alcan Common Shares
will only be made pursuant to a prospectus and related materials that Alcan
expects to send to Pechiney securityholders. These securities may not be sold,
nor may offers to buy be effected prior to the time the registration statement
becomes effective. No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities Act of 1933,
as amended. Forward-Looking Statement Certain statements made in this communication are
forward-looking statements. Although Alcan's management believes that the
expectations reflected in such forward-looking statements are reasonable,
readers are cautioned that these forward-looking statements by their nature
involve risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. Many factors could cause actual
results and developments to differ materially from those expressed or implied by
these forward-looking statements, including those listed under "Cautionary
Statement Concerning Forward-Looking Statements " and "Risk Factors" in the
preliminary prospectus included in the registration statement we have filed with
the SEC in connection with our proposed offer for certain securities of Pechiney.
See the previous paragraph for information about how you can obtain a free copy
of the registration statement. A FOR IMMEDIATE RELEASE ALCAN RECEIVES FRENCH
GOVERNMENT CLEARANCE TO ACQUIRE PECHINEY
SECURITIES Montreal, Canada, Paris, France - September 5, 2003 -
Alcan Inc. (NYSE, TSX: AL) announced today that the French Treasury
Department cleared Alcan's offer to acquire Pechiney securities [NYSE: PY,
Paris: PEC] filed on July 7, 2003. The decision followed a period of intensive
review and consultation. Alcan's plans for Pechiney's operations, allow Alcan to
respond to the expectations of the French Government in aerospace and defense
matters, in research and development, and in maintaining industrial sites and
employment in France. Commitments made by Alcan relate in particular to the
continuity of operations at industrial sites, except those which Pechiney has,
as of today, announced would be closed, and the location in France of the world
headquarters for packaging operations, the world headquarters for aerospace
operations, the global headquarters of new cell technology for primary aluminum
and the European headquarters for primary aluminum operations. Alcan is pleased that its willingness to ensure the
continuity of Pechiney's French operations has responded to concerns raised by
the French Government. These commitments are the yardstick by which any alternative
future plans for Pechiney will be measured. Travis Engen, Alcan's President and Chief Executive Officer
stated: "I am very satisfied with the quality of the dialogue that we
have established with the Government of France. We have done our utmost to
respond accordingly to concerns expressed by the Government. France will have a
prominent place within the combined entity - this is why Alcan is eager to
establish a relationship with the French public authorities based on trust and
cooperation. Our plans are built on a solid economic model. The combination of
Alcan and Pechiney will, while creating value, allow for economic development
and will support employment. This is the best option for Pechiney and its
employees." The French Government's clearance will permit the launch of
the Alcan's previously announced public offer, once the French stock exchange
authorities approve the final form of the offer documentation. Alcan is a multinational, market-driven company and a global
leader in aluminum, packaging, and recycling with 2002 revenues of US$12.5
billion. With world-class operations in primary aluminum, fabricated
aluminum as well as flexible and specialty packaging, Alcan is well positioned
to meet and exceed its customers' needs for innovative solutions and service.
Alcan employs 54,000 people and has operating facilities in 42
countries. Statements made in this press release which describe the
Company's intentions, expectations or predictions may be forward-looking
statements within the meaning of securities laws. The Company cautions that, by
their nature, forward-looking statements involve risk and uncertainty and that
the Company's results could differ materially from those expressed or implied in
such statements. Reference should be made to the most recent Form 10-K for a
summary of major risk factors
Pursuant to Rule 425 under the Securities Act of 1933,
as amended, and deemed filed pursuant to Rule 14d-2
of the Securities Exchange Act of 1934, as amended.
Subject Company: Pechiney
Registration
Statement No. 333-106851
Date: September
5,
2003
Press Release
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