Pechiney Completes Cathode Business Alliance With UCAR.Business Editors PARIS--(BUSINESS WIRE)--April 11, 2001 Pechiney (NYSE NYSE See: New York Stock Exchange : PY) today announced the completion of an agreement to broaden its cathode business alliance with UCAR UCAR University Corporation for Atmospheric Research UCAR Unmanned Combat Armed Rotorcraft UCAR Utility Cost Analysis Report International. Pechiney and UCAR are currently joint venture partners in Carbone Savoie, based in France. Carbone Savoie is the world's largest manufacturer of cathodes and other furnace lining products used in the smelting smelting, in metallurgy, any process of melting or fusion, especially to extract a metal from its ore. Smelting processes vary in detail depending on the nature of the ore and the metal involved, but they are typified in the use of the blast furnace. process in aluminum production. Under the terms of the agreement, UCAR has contributed its cathode manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. , primarily located in Salvador Brazil (the value of the Brazilian production assets is $21 million) and Pechiney has contributed approximately $9 million to Carbone Savoie. The cash contribution will be used for upgrades of the existing operations in France and manufacturing facilities in Brazil to meet growing demand for graphite cathodes. Carbone Savoie will continue to be owned 70% by UCAR and 30% by Pechiney. Pechiney is an international group that is listed on the Paris and New York stock exchanges New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Its two main sectors are aluminum and packaging. With a presence in 45 countries, Pechiney achieved sales of 10.7 billion euros in 2000 with 31,272 employees. |
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