 It was originally formed as the British Aluminium Company Ltd on 7 May 1894 and was subsequently known as British Alcan Aluminium plc (1982-1996).In the late 1880s and early 1890s, innovations in the extraction of alumina from ore (bauxite) and of converting this into aluminium by electrolysis had precipitated a drastic fall in the price of the metal.The electrolytic process required large amounts of cheap electricity, which could easily be provided by hydro-electric power in the Scottish Highlands.