Alcan to Close, Sell European Plants, Cut 520 Jobs
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Alcan Inc., the world's second-largest producer of primary aluminum, said on Thursday it plans to close three European plants, downsize four sites and sell two others for the loss of about 520 jobs.
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Aluminum producer Alcoa Inc.  on  Tuesday announced a restructuring of its product operations  that will include plant closings and could ultimately result in  a 10 percent reduction of its worldwide work force.
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MONTREAL (CP) - Alcan has filed its preliminary prospectus on the spinoff of its rolled-products division. The new company is to be turned over to Alcan shareholders as a separate business under the name Novelis.
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Eastman Kodak Co. EK.N said  Wednesday it will close three photofinishing labs in Spain and  Norway and downsize another in Switzerland, the latest steps in  its plan to cut investment in traditional film products.
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Drugs giant AstraZeneca announces it is to cut more than a quarter of the jobs at a plant in Cheshire.
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The automaker is closing all or part of four North American plants after a loss of nearly $1.5 billion in 2006.
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Cadbury Schweppes Plc , the world's largest confectionery group, plans to cut 7,500 jobs and close around nine plants as it seeks to catch up with the profitability of U.S. rivals after the sale of its drinks arm.
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Alcan Inc. AL.TO AL.N, the  Canadian aluminum maker, is considering a sale of its rolled  products business in a transaction that might fetch $4 billion  to $5 billion, after in May announcing a plan to spin the  business off, the New York Post said on Wednesday.
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Alcatel-Lucent  on Friday said it would cut about 12,500 jobs over three years, more than previously announced, as it reported a fourth-quarter net loss and forecast a drop in first-quarter revenues.
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Alcan Inc , which is fending off a hostile $28.8 billion bid from U.S. rival Alcoa Inc , is closer to arranging a rival friendly deal and is expected to make an announcement this week, according to sources familiar with the situation.
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The Swiss chip maker STMicroelectronics said it would close manufacturing plants in Texas, Arizona and Morocco, cutting 4,000 jobs. The company employs more than 50,000 people, its Web site says. The factories in Carrollton, Tex.; Phoenix; and Ain Sebaa, Morocco, are being phased out over two to three years.
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Altria Group Inc.  on Tuesday said it plans to move its U.S.-based cigarette production for non-U.S. markets to its facilities in Europe and will close its Cabarrus, N.C., manufacturing facility by the end of 2010.
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PITTSBURGH, July 12 -- Alcoa withdrew its $28 billion offer to buy Canadian aluminum rival Alcan on Thursday after being outbid by mining giant Rio Tinto.
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Anglo-Australian mining company Rio  Tinto   said on Thursday it received all  regulatory approvals required to close the $38.1 billion  acquisition of Canada's Alcan .
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Colgate-Palmolive Co., the consumer products giant behind brands like Ajax detergent and Irish Spring soap, plans to cut its worldwide work force by about 12 percent, or about 4,400 jobs, and close one-third of its factories as part of a four-year plan
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Aluminum producer Alcoa Inc. said Tuesday it is closing its Northwood, Ohio, automotive components factory by year-end to trim excess capacity, which will impact about 140 employees.
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Toothpaste maker Colgate-Palmolive said today it is cutting 4,400 jobs and closing a third of its 78 factories around the world. The group, which makes products such as Colgate