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Last month’s sale of a majority stake in Alcan Engineered Products to investment group Apollo means that, for the first time, three of the world’s largest rolled products producers are now detached from upstream production.
In fact, among major upstream producers, only Alcoa, and to a lesser extent, Hydro Aluminium, now have significant positions in rolled products. Many in the industry – not least Alcoa itself – have suggested that this reshaping of the supply chain could damage product innovation, given that the rollers are now comparatively small companies.
In the case of Aleris and Alcan EP, they are also owned by private equity companies – businesses that are not well known for investing heavily in long-term R&D.
This issue will be discussed at the Aluminium Industry Summit, supported by Metal Bulletin and its sister publication American Metal Market, which will be held in New York City on June 7-8.
Alcoa chairman and chief executive Klaus Kleinfeld will deliver the keynote address, while Novelis’s boss – president and ceo Phil Martens – will subject himself to an on-stage interview.
The ceos of Alcan EP, Aleris and Alba will be among those participating on an executive panel chaired by former Rio Tinto Alcan boss Dick Evans. Current Rio Tinto Alcan ceo Jacynthe Côté will also be making a speech.
Should make for a good show.
For further information visit www.amm.com/events/AIS