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RUSAL says Alcoa/Alcan bid won't affect its strategy

Tuesday, May 08, 2007
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United Company RUSAL, the world's top primary aluminium producer, said on Monday that the proposed takeover bid by Alcoa for Canada's Alcan Inc. will not affect its strategy.

"We will monitor with interest the developments around Alcoa's plan to acquire Alcan," UC RUSAL said in a written statement e-mailed to Reuters.

"In any case, the information that has appeared will not affect the strategy of UC RUSAL as an energy and metallurgy company which has been the leader in the growth and efficiency dynamics in the last four years."

UC RUSAL is the product of a recent merger of Russia's top aluminium producer RUSAL, its smaller rival SUAL and the assets of commodities trader Glencore. It has pro-forma sales of approximately $12 billion.

RUSAL, owned by billionaire Oleg Deripaska, has 66 percent of UC RUSAL, which will have the capacity to produce about 4 million tonnes of aluminium and 11 million tonnes of alumina, the raw material for the metal. SUAL has 22 percent and Glencore 12 percent.

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