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 July 7, 2003
Commission File No. 1-14110
_____________
PECHINEY
(Name of Registrant)
7, Place du Chancelier Adenauer
75218 Paris Cedex 16
France
(Address of Principal Executive Offices)
_____________
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: Press release dated July 7, 2003 announcing that Alcan has
launched a proposed unsolicited public offer for Pechiney's shares
in order to take control of the company.
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PRESS RELEASE
PROPOSED UNSOLICITED OFFER FOR PECHINEY BY ALCAN
Paris, July 7, 2003: Pechiney has just been informed that the Alcan Group has
launched a proposed unsolicited public offer for its shares in order to take
control of the company. There have been no consultations between the two groups
before Alcan's decision to launch its proposal.
Pechiney expresses surprise at this unfriendly approach.
Pechiney notes that this proposed offer is subject to conditions, including
authorisation by the competition authorities. This proposal, of which the
outcome is uncertain, has negative implications for the company, its employees
and its shareholders.
Thanks to its technological leadership and its commitment to continuous
improvement, Pechiney's strategy has allowed it to reinforce its position in
primary aluminum and to strengthen its position in the aerospace and automotive
industries, as well as to reaffirm its leadership in the packaging fields.
Viewed in this context the proposed offer seriously undervalues the strategic
potential of the Pechiney Group.
Pechiney's Board of Directors will meet shortly to review the proposal vis-a-vis
the intrinsic andstrategic value of the company as well as from an industrial
and shareholder value creatingperspective.
Pechiney is an international group listed on the Paris and New York stock
exchanges. Its three core businesses are primary aluminum, aluminium conversion
and packaging. Pechiney achieved sales of (euro)11.9 billion in 2002. It employs
34,000 employees.
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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:
Charles L. Ranunkel: Tel: 33 1 56 28 25 07
Fax 33 1 56 28 33 38
PECHINEY
7, place du Chancelier Adenauer
75116 Paris
e-mail: Pechiney-IR-Team@pechiney.com
Internet: http://www.pechiney.com
Press Contacts:
Chrystele Ivins: Tel: 33 1 56 28 24 18
chrystele.ivins@pechiney.com
Stephan Giraud: Tel: 33 1 56 28 24 19
stephan.giraud@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: July 7, 2003 PECHINEY
By: /s/ OLIVIER MALLET
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Name: Olivier MALLET
Title: Chief Financial Officer
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