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Rio Tinto Alcan is a Canada-based mining company.Headquartered in Montreal, Quebec, it is a subsidiary of global mining conglomerate Rio Tinto.It was created on 15 November 2007 as the result of the merger between Rio Tinto's Canadian subsidiary and Canadian company Alcan.
Alcan was a Canadian mining company and aluminum manufacturer. It was founded in 1902 as the Northern Aluminum Company, renamed Aluminum Company of Canada in 1925, and Alcan Aluminum in 1966. It took the name Alcan Incorporated in 2001.
Rio Tinto's revenues and earnings have grown substantially in 2003–2010, with one of the largest increases attributable to the company's acquisition of Alcan in 2007. Although its operating margin is significantly affected by the market prices of the commodities it produces, it has remained profitable over its recent history. [74] [98] [99]
Rio Tinto Aluminium (previously known as Comalco) is now known as Rio Tinto Alcan after Rio's takeover of Alcan.It was the world's eighth largest aluminium company. It mines and manufactures bauxite, alumina and primary aluminium.
In May 2007, Alcoa Inc. made a US$27 billion hostile takeover bid for Alcan in an attempt to form the world's largest aluminum producer. [33] The bid was withdrawn when Alcan announced a friendly takeover by Rio Tinto in July 2007. [34] On May 8, 2008, Klaus Kleinfeld was appointed CEO of Alcoa, succeeding Alain Belda. [35]
Halco's stock is owned by Alcoa (45%), Rio Tinto Alcan (45%) and Dadco Investments (10%). [1] Guinea is the world's 5th largest producer of bauxite, yet the country holds the world's largest reserves of the valuable ore used to produce aluminum. Estimates of the country's reserves rise as high as 25 billion tons, or the majority of the world's ...
The company was acquired in 2003 by the Alcan Corporation, headquartered in Canada. [1] In 2007, Alcan itself was taken over by mining giant Rio Tinto Alcan . Prior to its acquisition, Pechiney grew to be the world's 4th largest producer and developer of aluminium products, employing 34,000 people and operating 320 manufacturing and sales ...
Alcan: 38.1 56 34 2000 ... This also caused a sharp dip in Fox's stock price which made a deal unattractive to Fox shareholders. [456] [457] 22 1998 American Home ...