OREANDA-NEWS. The Board of Directors of the new company will consist of 12 members. Brian Gilbertson, currently SUAL’s President, will act as the non-executive chairman.

According to the press service of RUSAL, company RUSAL, the world’s third largest aluminium producer, SUAL Group, one of the world’s top ten aluminium producers, and Glencore International AG, the Swiss natural resources group announce today that they have signed an agreement to create the “United Company RUSAL” by merging their respective aluminium and alumina assets.

Before the IPO, the Board, in addition to Mr. Gilbertson, will be comprised of six members from RUSAL, two from SUAL, one from Glencore and two independent directors.

Alexander Bulygin, currently RUSAL’s CEO will serve as CEO of the joint company and will head the Executive Board, the highest governing body of the new company.

The United Company RUSAL will take on all of the obligations that the merged companies and assets have to all stakeholders, as well as social obligations, cooperation with local communities, the support and development of the regions where they work.

In addition, the new company will preserve the whole portfolio of investment projects that were developed by the companies independently before the merger. This includes the programmes to modernize and develop existing production facilities.

Commenting on the agreement, RUSAL Chairman Oleg Deripaska said: ‘This transaction is a logical step in our strategy of establishing the world's leading aluminium company. The combination of RUSAL, SUAL and Glencore's alumina assets transforms the new group into a truly global company. The combined company will have greater financial, technical, research and development, network and marketing resources. The transactions have a compelling industrial logic and deliver significant synergies for further growth. The new joint company will be highly ambitious and today's announcement is a staging post towards our future objectives.'