Breaking News

Alcan Considers Rio Tinted Bid

August 6, 2007

Canadian global aluminum provider and packaging leader Alcan has received a bid from Anglo-Australian miner company Rio Tinted in a move will likely lead to the seperation of its mining and other businesses, which also focus on cosmetic packaging. The company said that Rio’s bid trumped a hostile bid by another rival in the aluminum sector, Alcoa. Alcoa offered a sum that, according to Alcan executives, significantly undervalued the company.

The deal was likely to help Rio diversify beyond its strengths with mining minerals such as iron ore and copper, however, the prospect of taking on the business’s packaging operations is unlikely to be of interest. The deal means that Rio Tinto will make an initial offer to acquire Alcan’s outstanding shares at a cash price.

In 2006, Alcan Packaging registered sales of $6 billion—out of a total of $23.6 billion for Alcan as a whole. Of this figure beauty packaging represented 13% of the division’s revenues. The acquisition leads industry experts to believe that the company’s packaging division will eventually be spun off.
  • Care for Your Hair

    Care for Your Hair

    Melissa Meisel, Associate Editor||February 27, 2017
    Salon expert Richard Jay talks about protecting tresses.

  • Fit for Fitness

    Fit for Fitness

    Christine Esposito, Associate Editor||February 21, 2017
    Kinx Active is a new brand targeting women who want beauty products that can stand up to their fitness routines.

  • Cargo Says Aloha To Spring/Summer

    Cargo Says Aloha To Spring/Summer

    Christine Esposito, Associate Editor||February 13, 2017
    Cargo Cosmetics has rolled out its new Spring/Summer collection with Hawiianan singer Anuhea.

  • Trade Association Directory 2017

    February 2, 2017
    Contact details of trade associations that serve various segments of our industry and are mentioned frequently in Happi.

  • What the Halal  Is Going On?

    What the Halal Is Going On?

    Imogen Matthews , In-Cosmetics||February 2, 2017
    Demand for these beauty products is surging thanks to a fastgrowing Muslim population.

  • Relief for Sensitive Scalps

    Relief for Sensitive Scalps

    Guadalupe Pellon and Annette Mehling , BASF||February 2, 2017
    BASF researchers detail the attributes of the company’s highly effective hair care system focusing on scalp sensitivity.