The new company, Alantum, will be located just outside of Munich, Germany, and owned equally between Inco
ECM GmbH, a wholly-owned indirect subsidiary of CVRD Inco
, and Sud-Chemie, a supplier of catalysts for the chemicals and refining industry.
Murilo Ferreira has been appointed as President and Chief Executive Officer of CVRD Inco
The people from Inco
have certainly been embraced by the people at CVRD.
Roger Agnelli, said "We are delighted with this news, which confirms that the Minister of Industry is satisfied that CVRD's acquisition of Inco
will be of net benefit to Canada.
During this presentation, INCO
announced work in its research laboratory that used Mg to produce spheroidal graphite.
CVRD's proposed offer for Inco
contrasts with those previously made by Teck Cominco Limited and Phelps Dodge Corporation, which both made acquisition offers based upon a combination of cash and shares.
Falconbridge and its cross-town Sudbury rival Inco
, were second tier miners valued in the $10 billion range.
CONTACT: Media Relations: Inco
Limited, Steve Mitchell, (416) 361-7950; Investor Relations: Sandra Scott, (416) 361-7758 or http://www.
Phelps Dodge Corporation (NYSE: PD), Inco
Limited (NYSE: N; TSX) and Falconbridge Limited (NYSE: FAL; TSX) announced today they have agreed to combine in a US$56(1) billion transaction to create a North American-based mining company that is one of the world's largest.
In addition to Millis, there were many at INCO
who contributed to ductile iron's growth and development.
Additionally, Fitch has left Inco
on Rating Watch Evolving pending outcome of bids to acquire Inco
as well Inco
's bid to acquire Falconbridge.
also announced that it has suspended indefinitely the payment of dividends on its common shares.