SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K dated January 23, 2003
Commission File No. 1-14110
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PECHINEY
(Name of Registrant)
7, Place du Chancelier Adenauer
75218 Paris Cedex 16
France
(Address of Principal Executive Offices)
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Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F: |X| Form 40-F: |_|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
Yes: |_| No: |X|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
Yes: |_| No: |X|
Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes: |_| No: |X|
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- __________
Enclosure: A press release dated January 23, 2003, announcing 164 million euros
of assets write-downs and restructuring for the fourth quarter of 2002.
PRESS RELEASE
[PECHINEY logo]
January 23. 2003
Pechiney announces 164m euros (or 1.67 euro per share) of assets write-downs and
restructuring for the fourth quarter of 2002
The Pechiney Group announces that its fourth quarter results, due out on January
30, 2003, will include in its French GAAP accounts 50 million euros of SFAS142
related goodwill impairment.
In addition, a 114 million euro one-time pre-tax charge for restructuring and
assets write-downs will be taken.
In total, these exceptional items will amount to 164 million euros before tax,
of which around 20 million will have an impact on cash flow, and to 130 million
euros after tax (or 1.67 euro per share). These charges are the result of a
detailed review of the Group's activities' outlook.
*****
Pechiney is an international group that is listed on the Paris and New York
stock exchanges. Its two main sectors are aluminum and packaging. With a
presence in 50 countries, Pechiney achieved sales of approximately 11 billion
euros in 2001 with 34,500 employees.
*****
Certain statements in this press release that describe Pechiney's intentions,
expectations or projections may constitute forward-looking statements. These
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause Pechiney's actual results, performance or
achievement to be materially different from its intentions, expectations or
projections. The forward-looking statements in this press release speak only as
of its date and Pechiney undertakes no obligation to update or revise any
forward-looking statement to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contacts: Press Contacts:
Charles L. Ranunkel Tel: 33 1 56 28 25 07 Chrystele Ivins: Tel: 33 1 56 28 24 18
Catherine Paupelin Tel: 33 1 56 28 25 08 chrystele.ivins@pechiney.com
Jerome Gaudry Tel: 33 1 56 28 25 23 ----------------------------
Fax 33 1 56 28 33 38 Stephan Giraud: Tel: 33 1 56 28 24 19
stephan.giraud@pechiney.com
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PECHINEY
7, place du Chancelier Adenauer
75116 Paris
e-mail: Pechiney-IR-Team@pechiney.com
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Internet: http://www.pechiney.com
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Pechiney has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 23, 2003 PECHINEY
By: /s/ OLIVIER MALLET
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Name: Olivier MALLET
Title: Chief Financial Officer