Pechiney speculates over Corus aluminium
interested in the acquisition of the aluminium activities of
Anglo-Dutch counterpart Corus, and that it will be particularly
careful with regard to competition law when considering a bid.
French packaging and aluminium group Pechiney says it is still interested in the acquisition of the aluminium activities of Anglo-Dutch counterpart Corus, and that it will be particularly careful with regard to competition law when considering a bid - according to a report in French newspaper Les Echos.
"We are fully involved in the bidding process for the Corus aluminium assets," said Philippe Varin, director of Pechiney's aluminium operations, at a press conference in London.
Pechiney was forced to abandon plans for a three-way merger with rivals Alcan and Algroup in 2000 after a veto by the European Commission, which ruled that the amalgamation would create a monopoly.
Pechiney is hoping that the move to buy up the aluminium assets of Corus will enable it to take advantage of Europe's growing aluminium can market.
