 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.

Alcoa acquired the "aluminum plate, sheet and soft-alloy extrusion manufacturing operations and distribution businesses" of British Aluminium in 2000 from Luxfer Group who retained some of the business.