This first meeting laid the groundwork for a strong convergence of views on the main challenges and risks of the planned bid as well as the measures to be adopted in order to ensure that European employees’ interests of both companies are properly taken into consideration.

Within the framework of this meeting, the EMF has identified the following risks:

- The social consequences, and in particular the job losses entailed by the synergies expected from the takeover.

- The loss of independence of a large and essential actor in the European aluminium industry.

- The inevitable hiving off of activities and companies in similar cases, stemming from a redeployment of activities or from decisions by the European DG Competition authorities.

In order to ensure that proper consideration will be given to the need to safeguard a strong European aluminium industry and preserve the interests of Alcoa and Alcan employees, the EMF proposes that:

- A thorough analysis of the challenges and risks linked to Alcoa’s takeover project for Alcan, or any alternative scenario, be undertaken. This analysis will be undertaken with the support of national and European workers’ representation bodies and with the assistance of European trade union federations.

- A strategy will be drawn up in order to draw the national and European authorities’ attention to the risks of such hostile bids, with a view to strengthening industrial policies and protecting employees against the financial logic of companies.

- An increased communication effort be made to draw the media’s attention to what is at stake in relation to Alcoa’s hostile bid for Alcan both for Europe’s economy and the workers of both Groups.

The EMF will rapidly bring together the EMF affiliated organisations concerned to continue discussions and decide on future steps to be taken.

In addition, the representatives of the two European Works Councils are committed to establishing a network for the exchange of information between the two Groups’ employees’ representatives and to make employees aware of what is at stake and the risks inherent in the planned bid.

Finally, they call on the management of the two groups to fulfil there obligations with regards to information and consultation at national and European levels.

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PRESS 38/2007

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The EMF is the representative body defending the interests of workers in the European metal industry. The EMF has a mandate for the external representation and coordination of the metalworkers' unions and a mandate to engage in bargaining at European level.

For further information please contact:
Editor, Peter Scherrer, EMF General Secretary
Isabelle Barthès, EMF Senior Adviser Tel. + 32 2 227 1012