UC Rusal, a leading aluminium producer headquartered in Moscow, Russia, has announced a proposal to demerge its high-carbon assets and change the company name to AL+.
UC Rusal, acting as AL+, will retain the majority of production assets and will have a focus on sustainability, further developing its inert anode technology in pursuit of carbon-free aluminium production. A newly-created company, consisting of UC Rusal’s higher-carbon assets, including alumina refineries and smelters throughout Russia, which will focus undertake a long-term modernisation programme to reduce emissions via technologies such as carbon capture.
“This announcement is another major step in our journey to lead the global aluminium industry into the low carbon economy,” stated Lord Gregory Barker, executive chairman of the En+ Group. “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.”
This proposed demerger remains subject to approval by regulatory bodies and consultations with key stakeholders. Further details of the demerger plan will be forthcoming.