VANCOUVER, Jan. 22 /PRNewswire-FirstCall/ -- Alcan has filed its leave to appeal application with the British Columbia (B.C.) Court of Appeal regarding the B.C. Utilities Commission (BCUC) December 29, 2006 decision to reject the amended and restated Long-Term Energy Purchase Agreement between Alcan and BC Hydro. The Company's move follows BC Hydro's similar filing earlier today to the same court.
"Alcan believes that the BCUC erred in rejecting the amended and restated Long-Term Energy Purchase Agreement between Alcan and BC Hydro," said Michel Jacques, President and Chief Executive Officer, Alcan Primary Metal Group. "Even though Alcan has not yet received the detailed BCUC reasons, the Company must exercise its right of appeal before the end of the month. Once Alcan has received the detailed reasons, it will examine them to better understand the Commission's rationale and will refine and complete the grounds for appeal," he added.
Alcan Inc. (NYSE, TSX: AL) is a leading global materials company, delivering high quality products and services worldwide. With world-class technology and operations in bauxite mining, alumina processing, primary metal smelting, power generation, aluminum fabrication, engineered solutions as well as flexible and specialty packaging today's Alcan is well positioned to meet and exceed its customers' needs. Alcan is represented by 65,000 employees in 61 countries and regions, and posted revenues of US$20.3 billion in 2005. The Company has featured on the Dow Jones Sustainability World Index consecutively since 2003. For more information, please visit: http://www.alcan.com/.
Statements made in this press release document which describe the Company or management's objectives, projections, estimates, expectations or predictions may be "forward-looking statements" within the meaning of securities laws. All statements that address the Company's expectations about the future including statements about objectives, operations or results are forward-looking statements that may be based on the Company's own research and analysis. The Company cautions that, by their nature, forward-looking statements involve risk and uncertainty and that the Company's actual actions or results could differ materially from those expressed or implied in such forward-looking statements or could affect the extent to which a particular projection is realized. Reference should be made to the Company's most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K for a list of factors that could cause such differences.
%B M %C 1,2,5,31,34,37,38,39,54 %D BCUC Appeal
