ALUSUISSE PLANS 50 PCT CAPITAL CUT
Schweizerische Aluminium AG, Alusuisse,
plans to reduce share and participation certificate capital by
50 pct to cover losses in 1986 and those carried forward from
the previous year, chief executive Hans Jucker said.
    Jucker told a news conference that the greatest drain on
its financial resources had been stopped, but after
extraordinary charges the net loss of 688 mln francs in 1986
was only slightly under the 756 mln loss of the previous year.
    The losses in 1986 and those carried over from 1985 made it
necessary to reduce capital by 50 pct, he said.
    However, Jucker said the company improved liquidity through
a recovery in cash flow and conversion of 300 mln Swiss francs
of credit into a subordinated loan.
    Trading in Alusuisse shares was suspended on the Zurich
stock exchange after today's announcement by the company that
it would cut its share capital by 50 pct, the bourse said.
Trading would resume again on Monday.
 Reuter
