Rio Tinto Alcan Canada Ltd. is a Canadian mining company and aluminum manufacturer. It was founded in 1902 as the Northern Aluminum Company, Ltd, renamed Aluminum Company of Canada, Ltd. in 1925, and Alcan Aluminum Ltd. in 1966. It took the name Alcan Inc. in 2001. During that time, it grew to become one of the world’s largest aluminum manufacturers.
Alcan was purchased by European multinational Rio Tinto for $38 billion in 2007, becoming Rio Tinto Alcan Inc. in 2008. It is headquartered in Montreal, Canada.
The Northern Aluminium Company Ltd. was founded in 1902 as part of the Pittsburgh Reduction Company. In 1913, the company opened a kitchen utensil production plant and foundry in Toronto. It opened a rolling mill in the plant a few years later.
During the First World War (1914-18), aluminium production shot to 131,000 tonnes from 69,000.[1]
In 1925, the company was renamed the Aluminum Company of Canada. The Aluminum Company of Canada was responsible for rapid development in Arvida, today a part of the city of Saguenay in Quebec, by contributing to the construction of major ports and railway facilities. It began production at its sheet rolling and extrusion facility in Ontario, Canada in 1940.[2]
In 1945, the Aluminium Company of Canada is officially registered under the trade name Alcan.[3] In 1951, it initiated a $500-million project at Kitimat, British Columbia, the largest public-private partnership ever introduced in Canada at the time.[4]
Between 1998 and 2001, the Saguenay-Lac-Saint-Jean became the largest construction site in North America, as Alcan undertook a $3-billion construction project in Alma with a yearly production capacity of 400,000 metric tonnes. In 2000, Alcan acquired ALgroup (Alusuisse Group Ltd.), merging the companies to become Alcan, Inc. in 2001. Alcan became the second biggest primary aluminium production company. It then became the world’s largest aluminium manufacturer in 2004 after acquiring the Pechiney Group, the 4th player in worldwide production and fabrication of aluminium and the number 3 in packaging.[5]
In 2007, Rio Tinto acquired Alcan Inc., after a US$38 billion deal. Rio Tinto became the world’s leading aluminum producer. Rio Tinto quickly announced its intention to sell off the Engineered Products and Packaging business groups.[6] Alcan Inc. was amalgamated with Rio Tinto Canada Holding Inc. and renamed Rio Tinto Alcan Inc. in 2008.[6]
In 2010, Alcan Packaging was sold to Amcor.[7]
In 2011, Rio Tinto received a binding offer from Apollo and FSI to acquire 51% and 10% respectively of Alcan Engineered Products (excluding Cable). Rio Tinto retains 39%.