En+ Group warmly welcomes the announcement by its metals business RUSAL of its proposal to demerge its high carbon assets and to change its name to AL+.
Rusal will retain the majority of production assets and will be focused on reaching its full potential as a sustainable business
The demerged assets, including alumina refineries and smelters located in Russia will become a newly created entity with the working title of NewCo. It will embrace new technologies and investment to deliver its own environmental change programme, concentrating on the growing markets.
Lord Barker, Executive Chairman of En+ Group:
“This announcement is another major step in our journey to lead the global aluminium industry into the low carbon economy. AL+ will be a market leader in green aluminium production as measured by carbon footprint and other environmental credentials. However, this demerger additionally secures the future of important assets in Russia that also have a future in a low carbon world but which require a fundamentally different approach to technology and a different investment path to our major international businesses”.