In total se eral hundred positions should thus disappear

The case is irtually complete. A ter months o negotiation, US in estment und Apollo and the strategic in estment und (ISP) are to resume the old plants Pechiney aluminium or Aeronautics, automoti e, packaging products, etc. Either a cash set almost 70 sites, 11,000 employees worldwide, including about 5,000 in rance, or a sales greater than 4 billion (3 billion euros) in 2009.

Public authorities: help to recreate a HABs champion, se en years a ter the sale o the rench lagship to the Canadian Alcan, himsel swallowed since mining group Rio Tinto.

"All key parameters o the agreement ha e been alidated, in particular the prices and the allocation o capital, explains a close to the record." Last audits should take two to three weeks, or a current April signature. "The ISPs, the rench so ereign wealth und In estment Committee, should alidate the project ery soon. The case must be de initi ely stopped in late June in order to draw the consequences in the hal -yearly accounts o Rio Tinto.

According to the proposed montage, Apollo will take 51 o the capital o the current Alcan Engineered Products (Alcan EP) and the ISP will be 10. Rio Tinto will temporarily keep 39, which should enable it to bene it rom the relie expected rom this acti ity. Term, Rio may get out o this business by dedicating its 39 either Apollo or as an introduction on the stock exchange. " rom here, there is any work to reposition this acti ity, which is losing money and was central or Alcan or Rio Tinto", said one o the artisans o the project.

The irst step is to reduce costs or the accounts, a ter a black year during which sales ell 35. This means a signi icant restructuring. It is one o the reasons why the operation has taken longer than expected.

"The ISPs, armed arm o the Go ernment, did not contro ersy o er the act that it is in esting in a society which terminates, decrypts a pro essional." In all cases, something that the regional elections are past.

Become a world leader

The restructuring, it is already launched, key by key. A departure plan was implemented in Saint- lorentin, another to Neu -Brisach. Consultation with the elected representati es just ended in oreppe, while she starts at Issoire and A iatube. In total, se eral hundred positions should thus disappear. Howe er, the reco ery project pro ides sites peacekeeping commitments. The next step will aim to make a leader not only rench or European, but global Alcan EP. This will require in estment, probably o acquisitions, particularly outside Europe. Christel Bories, the rench leading this di ision or three years, should be responsible or, "but, this time with means to expand".

In all the circumstances, the new set will be headquartered in rance. I the State chose to enter the capital, it is well with the idea partly resurrect Pechiney - e en i the majority o the capital into American hands. "I still ha e through the throat Pechiney," Nicolas Sarkozy said in January 2008. To erase the trauma, it is not excluded that the uture group is renamed term "pechiney" and rated on the stock exchange in Paris.