Pechiney
Encyclopedia
Pechiney SA was a major aluminium
conglomerate based in France
. The company was acquired in 2003 by the Alcan Corporation
, headquartered in Canada
. In 2007, Alcan
itself was taken over by mining giant Rio Tinto Alcan.
Prior to its acquisition, Pechiney grew to be the world's 4th largest producer and developer of aluminium products, employing 34,000 people and operating 320 manufacturing and sales facilities in 50 countries at the time it was purchased by Alcan. The group operated in all facets of the aluminium industry from bauxite
mining to the development of sophisticated applications of metal products in addition to international commodities trading and brokerage of the metal on the London Metal Exchange
(LME).
Pechiney gained worldwide recognition for its use of electrolysis
technology, and was a leader in specialty packaging and aerospace applications .
facility in Salindres
. Originally founded as Compagnie des Produits Chimiques Henri Merle the company was renamed in 1897 the Société des Produits Chimiques d'Alais et de la Camargue.
The company first began producing aluminium metal
in 1860 using a chemically-based process developed by Henri Sainte-Claire Deville in 1854 and was granted a 30 year monopoly
by the French government.
Pechiney had developed a significant presence in Europe in the 1930s and first prospected the American market in 1911 before acquiring a strong foothold there in the 1960s. In the 1954, Pechiney expanded into Africa and subsequently it developed a presence in Australia, Latin America, Greece and Asia.
The corporate name was changed to Pechiney in 1948, after a former influential managing director referred to by the same name, A. R. Pechiney.
that operated as a subsidiary of Pechiney from 1981 through 2000, when it was banned from trading by the FSA
. Brandeis was one of the founding members of the London Metal Exchange in 1877. In 2000, the company's customer accounts and trading positions were purchased by Standard Bank
London.
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
conglomerate based in France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
. The company was acquired in 2003 by the Alcan Corporation
Alcan
Rio Tinto Alcan Inc. is a Canadian company based in Montreal. It was created on November 15, 2007 as the result of the merger between Rio Tinto PLC's Canadian subsidiary, Rio Tinto Canada Holding Inc., and Canadian company Alcan Inc. On the same date, Alcan Inc. was renamed Rio Tinto Alcan Inc..Rio...
, headquartered in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. In 2007, Alcan
Alcan
Rio Tinto Alcan Inc. is a Canadian company based in Montreal. It was created on November 15, 2007 as the result of the merger between Rio Tinto PLC's Canadian subsidiary, Rio Tinto Canada Holding Inc., and Canadian company Alcan Inc. On the same date, Alcan Inc. was renamed Rio Tinto Alcan Inc..Rio...
itself was taken over by mining giant Rio Tinto Alcan.
Prior to its acquisition, Pechiney grew to be the world's 4th largest producer and developer of aluminium products, employing 34,000 people and operating 320 manufacturing and sales facilities in 50 countries at the time it was purchased by Alcan. The group operated in all facets of the aluminium industry from bauxite
Bauxite
Bauxite is an aluminium ore and is the main source of aluminium. This form of rock consists mostly of the minerals gibbsite Al3, boehmite γ-AlO, and diaspore α-AlO, in a mixture with the two iron oxides goethite and hematite, the clay mineral kaolinite, and small amounts of anatase TiO2...
mining to the development of sophisticated applications of metal products in addition to international commodities trading and brokerage of the metal on the London Metal Exchange
London Metal Exchange
The London Metal Exchange is the futures exchange with the world's largest market in options, and futures contracts on base and other metals. As the LME offers contracts with daily expiry dates of up to three months from trade date, along with longer-dated contracts up to 123 months, it also...
(LME).
Pechiney gained worldwide recognition for its use of electrolysis
Electrolysis
In chemistry and manufacturing, electrolysis is a method of using a direct electric current to drive an otherwise non-spontaneous chemical reaction...
technology, and was a leader in specialty packaging and aerospace applications .
History
The company was originally founded in 1855 by Henri Merle as a producer of caustic soda at a manufacturingManufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
facility in Salindres
Salindres
Salindres is a commune in the Gard department in southern France.-Population:-References:*...
. Originally founded as Compagnie des Produits Chimiques Henri Merle the company was renamed in 1897 the Société des Produits Chimiques d'Alais et de la Camargue.
The company first began producing aluminium metal
Metal
A metal , is an element, compound, or alloy that is a good conductor of both electricity and heat. Metals are usually malleable and shiny, that is they reflect most of incident light...
in 1860 using a chemically-based process developed by Henri Sainte-Claire Deville in 1854 and was granted a 30 year monopoly
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
by the French government.
Pechiney had developed a significant presence in Europe in the 1930s and first prospected the American market in 1911 before acquiring a strong foothold there in the 1960s. In the 1954, Pechiney expanded into Africa and subsequently it developed a presence in Australia, Latin America, Greece and Asia.
The corporate name was changed to Pechiney in 1948, after a former influential managing director referred to by the same name, A. R. Pechiney.
Brandeis Brokers
Brandeis (Brokers) Ltd was a broker and ring dealing member on the London Metal ExchangeLondon Metal Exchange
The London Metal Exchange is the futures exchange with the world's largest market in options, and futures contracts on base and other metals. As the LME offers contracts with daily expiry dates of up to three months from trade date, along with longer-dated contracts up to 123 months, it also...
that operated as a subsidiary of Pechiney from 1981 through 2000, when it was banned from trading by the FSA
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
. Brandeis was one of the founding members of the London Metal Exchange in 1877. In 2000, the company's customer accounts and trading positions were purchased by Standard Bank
Standard Bank
The Standard Bank of South Africa Limited is one of South Africa's largest financial services groups. It operates in 30 countries around the world, including 17 in Africa.-History:...
London.