RUSAL, SUAL AND GLENCORE UITE TO CREATE WORLD LEADER IN ALUMINIUM

摘要

RUSAL, the worlds third largest aluminium producer, the SUAL Group, one of the world's top ten in aluminium, and Glencore International AG, the Swiss natural resources group have signed an agreement to set up the "United Company RUSAC'. It is claimed that the new company will become the world's largest aluminium and alumina producer, employing more that 110,000 people in 17 countries on five continents. The annual volume of production will be approximately 4 million tonnes of aluminium and 11 million tonnes of alumina. The company will account for approximately 12.5 percent of global aluminium and 16 percent of global alumina production, respectively. The combined company will own bauxite mining, alumina refining, aluminium smelting and foil production facilities. Under the terms of the share-for-share deal, EN+, as RUSAEs shareholder, will own 66 percent of the new company, with SUACs shareholders owning 22 percent and Glencore 12 percent, respectively The parties expect to complete the deal by 1 April 2007, subject to approval by anti-trust regulators in Russia and a number of other countries and the consent of other stakeholders, through the exercise of their beneficial rights. To manage the process, the companies will create a coordination committee, which will be headed by a SUAL representative.