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 August 26, 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 August 26, 2003, announcing a joint venture
between Pechiney and Baotou Aluminium Company in China.
PRESS RELEASE
[GRAPHIC OMITTED]
Pechiney and Baotou Aluminium Company set the basis of a joint-venture in China
Beijing-Paris, August 26, 2003. Baotou Aluminium Co. and Aluminium Pechiney have
reached an agreement for the construction of a new production unit for high
purity aluminium at Baotou (Inner Mongolia).
This project essentially relies on the patented Pechiney technology for
segregation of high grade aluminium to produce high purity aluminium, already in
use in its Mercus (France) site, and mainly used in the manufacture of
electronic components and capacitors.
With the technical assistance of Aluminium Pechiney, Baotou, significant
producer of primary aluminium in the region of Inner Mongolia, is today in a
position to produce in its plant the high grade aluminium necessary for the new
high purity aluminium production unit.
Aluminium Pechiney and Baotou Aluminium should have a respective ownership of
51% and 49% of the joint-venture company. The total amount of the investment is
evaluated at USD 13 million.
The construction of the new unit should start in fall 2003. First production is
expected in October 2004, with an initial production capacity of 5000 tons of 4N
aluminium. The new plant should allow the partners to supply the Asiatic markets
and notably Japan, main consumer of this type of products. After a start-up
period, the turnover is expected to be around USD 12 million.
"This first project in China of the aluminium conversion sector of Pechiney
gives us an opportunity to make a first step in this very promising country. It
should be used as a basis to develop new projects in order to benefit from the
numerous opportunities offered by the exceptionally fast economic growth of
China" said Pierre Vareille, SVP Aluminium Conversion Sector in Pechiney.
After the signature of the letter of intent, the parties will pursue the
discussions to reach a final agreement on the documentation for the creation of
the new company and the technology licence. The project is however still subject
to approval from the Chinese authorities on the final documentation.
Pursuant to article 7 of the COB Rule book n(degree) 2002-04, this press release
was disclosed to the Commission des Operations de Bourse before its release.
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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 Contact: Press Contacts:
Charles L. Ranunkel: Tel: 33 1 56 28 25 07 Chrystele Ivins: Tel: 33 1 56 28 24 18
Fax 33 1 56 28 33 38 chrystele.ivins@pechiney.com
PECHINEY
7, place du Chancelier Adenauer Stephan Giraud: Tel: 33 1 56 28 24 19
75116 Paris stephan.giraud@pechiney.com
e-mail: Pechiney-IR-Team@pechiney.com
Internet: http://www.pechiney.com
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: August 26, 2003 PECHINEY
By: /s/ OLIVIER MALLET
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Name: Olivier MALLET
Title: Chief Financial Officer