Rio Tinto Sells Alcan Composites to Schweiter Technologies
25 January 2010
We are very pleased to announce that Rio Tinto has entered into an agreement with Schweiter Technologies to sell the business of Alcan Composites as a whole, in¬cluding Alcan Technology & Management in Neuhausen, and the composites struc¬tures business in Altenrhein, both in Switzerland.
Schweiter Technologies is a Swiss Stock Exchange listed company focusing on the manufacture of textile and semiconductor machinery. The business currently con¬sists of the SSM textile machinery and Ismeca semiconductor divisions, and the intention is that composites will form a third stand-alone division within the group, consistent with Schweiter Technologies' strategy of acquiring and running compa¬nies that are market leaders in their chosen segments.
We expect the transition process to be completed before the end of 2010 and will provide you with more information as we move forward. Until the day of handover, the composites struc¬tures business remains part of Alcan Engineered Products and therefore Rio Tinto.
Please be assured that our first priority in this period of change is to continue to serve you with the same commitment as always. We thank you for your trust and continued business relationship over the years and appreciate the opportunity to share this significant news with you.
