Pechiney Nederland NV, a wholly-owned subsidiary of Canadian aluminium producer Alcan, will conduct a strategic review of alternatives, including the potential sale of the 200,000 mt/year aluminium smelter in Vlissingen, in which it holds an 85% interest.
Ongoing negotiations involving a consortium of energy-intensive companies have so far failed to satisfy the smelter's requirements for a long-term competitive energy supply, it said Monday.
"In view of the current status of these energy negotiations, Pechiney Nederland NV is conducting this review in an attempt to determine an alternative long-term future for the Vlissingen smelter, including a potential sale," said Wolfgang Stiller, member of Pechiney Nederland NV supervisory board and president, Alcan Primary Metal, European operations and global anode business. "This review follows approximately two years of exploration for alternative energy sources for the smelter, which included extensive cooperation from the Dutch Government," he added.
The Vlissingen smelter employs about 700 people. It mainly produces aluminium billet for end-use in the European engineered products market. It is part of Alcan's global network of 21 smelters, which have a combined capacity of 3.4 million mt/year.
"Alcan's on-going strategy is to invest primarily in low-cost smelters. At the energy price levels currently proposed by the consortium, the future of the Vlissingen smelter within Alcan is no longer guaranteed," said Jean-Philippe Puig, president, Alcan Primary Metal, Europe.
About 90% of Alcan's energy supply is secured for the long term, and some 50% of its energy requirements are met through self generated power, compared with an industry average of 25%.
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