Alcan downgraded
it is disappointed with the S&P decision to downgrade its
rating on the S&P 500 Index.
Alcan, the Canada-based aluminium packaging provider, has said that it is disappointed with the S&P decision to downgrade its rating on the S&P 500 Index.
Travis Engen, president and chief executive officer, said: "In reacting to this surprise announcement, I can only express disappointment. Alcan has been a member of the S&P 500 Index and its predecessors for over 65 years. With nearly half of our shareholders and over a third of our revenues based in the US, we are a fully-established element of the US equities market."
Alcan is listed on the New York, Toronto, London and Swiss stock exchanges.
Alcan's quarterly results conference call with analysts will take place today, July 16, 2002 at 10:00 am (ET) and will be webcast via the Internet at the company website.
Alcan is a multinational, market-driven company and a global leader in aluminum and speciality packaging with annual revenues of US$12.6 billion (€12.6bn) in 2001. It employs approximately 48,000 people and has operating facilities in 38 countries.
