The company was bought again by the Canadian-based Alcan in 1982. Operations were merged and the company was renamed British Alcan Ltd. In 1994, the company produced 357,000 tonnes of aluminium and made a pre-tax proft of £30.9m up from a loss of £22.7m the previous year. In February 1996 it was announced that Alcan was to sell British Alcan to a group of institutional investors, Mercury Development Capital, Morgan Grenfell Development Capital and CVC Capital Partners for £300m. The new company would be known as British Aluminium Ltd.