Exhibit 99.3 Press Release




                                         FOR IMMEDIATE RELEASE
CONTACTS:

Ronald Tassello                          Donald C. Weinberger
BALTEK CORPORATION                       Wolfe Axelrod Weinberger Associates LLC
(201) 767-1400                           (212) 370-4500


                               BALTEK CORPORATION
                    ANNOUNCES AGREEMENT TO SELL TO ALCAN INC.

Northvale,  N.J., March 5, 2003 -- Baltek Corporation  (NASDAQ:  BTEK) announced
today that it has entered into a Merger  Agreement  with a  subsidiary  of Alcan
Inc. After the merger Baltek will become a wholly owned subsidiary of Alcan Inc.

An independent committee of the Board of Directors  unanimously  recommended the
merger,  and the Board of  Directors  unanimously  approved  the  merger and the
Merger Agreement. Jacques Kohn and other members of the Kohn family, who own 46%
of the  outstanding  common stock of Baltek,  have signed an undertaking to vote
their shares in favor of the transaction.

Under the agreement,  Baltek shareholders would receive  approximately $15.17 in
cash for each  share  of  Baltek  common  stock.  This  reflects  a  premium  of
approximately  77% based on the 20-day average  trading prices prior to the date
of  the  signing  of  the  merger  agreement.   Alcan  will  deliver  to  Baltek
shareholders approximately $35,250,000 in cash.

Jacques Kohn,  the President and Chief  Executive  Officer of Baltek  commented,
"This offer  represents good value for Baltek's  shareholders.  In reviewing our
projected  short  term and long term  stock  valuation,  our  projected  capital
requirements  and the needs of our  customers,  the Board  believes it is in the
best  interests  of  Baltek  to enter  into  this  agreement  with  Alcan and we
recommend acceptance of Alcan's offer."

This transaction will provide the customers of Baltek and Alcan with significant
benefits.  For approximately 8 years Alcan Composites and Baltek have cooperated
in marketing and  distribution in the US. By combining the employees,  resources
and  product   lines  of  Alcan   Composites   and  Baltek,   customers  in  the
transportation,  marine, wind power generation and construction  markets will be
able to purchase a broad range of core materials from one source.

Phoenix  Security Corp., a subsidiary of Laidlaw Global  Corporation,  which has
acted as  financial  advisor  to  Baltek,  has  issued  a  fairness  opinion  in
connection  with the  merger.  The  completion  of the  merger is subject to the
approval of Baltek's stockholders.

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As soon as  practicable,  Baltek will file a proxy statement with the Securities
and Exchange Commission relating to the merger and will mail the proxy statement
to its stockholders.  Baltek will schedule a special meeting of its stockholders
to vote on a proposal to approve the Merger  Agreement and the  transactions  it
contemplates.  Baltek's Board has unanimously  recommended that the stockholders
approve the Merger  Agreement.  Alcan has entered into a voting  agreement  with
members  of the Kohn  family in which  they have  agreed to vote in favor of the
Merger  Agreement.

When available,  Baltek's stockholders will be able to obtain a free copy of the
proxy  statement to be filed with the Securities and Exchange  Commission at the
SEC's website at www.sec.gov. The proxy statement and other documents filed with
the  Securities  and Exchange  Commission by Baltek may also be obtained free of
charge from  Baltek by  directing  a request to Baltek  Corporation,  10 Fairway
Court, P.O. Box 195, Northvale, NJ 07647.

THE PROXY STATEMENT SHOULD BE READ CAREFULLY BEFORE MAKING A DECISION CONCERNING
THE MERGER.  STOCKHOLDERS  ARE URGED TO READ THE PROXY  STATEMENT  AND ANY OTHER
RELEVANT DOCUMENTS RELATING TO THE MERGER TRANSACTION  DESCRIBED ABOVE WHEN THEY
BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

                       ----------------------------------

BALTEK  CORPORATION is a world-class  manufacturer and distributor of balsa wood
products and other  structural core materials,  including PVC Foam and non-woven
mat products.

Forward Looking Statements

Certain statements in this press release, the Company's quarterly report on Form
10-Q, the Annual Report on Form 10-K, the Company's press releases or in reports
to stockholders constitute  forward-looking statements within the meaning of the
Private  Securities  Litigation  Reform Act of 1995. Such statements  relate to,
among other  things,  industries  in which the Company  operates,  the U.S.  and
global  economies,  earnings,  cash flow and  operating  performance  and may be
indicated  by words  or  phrases  such as  "anticipates,"  "supports,"  "plans,"
"projects,"  "expects," "should," "forecast,"  "believe,"  "management is of the
opinion" and similar words or phrases. Forward-looking statements are subject to
inherent  uncertainties  and risks,  including  among others:  general  industry
trends and growth rates and economic  conditions  as they affect  demand for our
customers'  products and continued  demand by our  customers.  In addition,  the
consumption of the merger depends on the Company's compliance with other closing
conditions  as set forth in the  Agreement  and Plan of  Merger  and filed as an
Exhibit  to the  Company's  Form  8-K on the  date  hereof.  In  addition,  such
statements  could be affected by general  domestic  and  international  economic
conditions.  The list of factors presented here should not be considered to be a
complete list of all potential  risks and  uncertainties.  Unlisted  factors may
present significant  additional  obstacles to the realization of forward-looking
statements.

In light of these risks and  uncertainties,  actual  events and results may vary
significantly  from those expressed or implied by such statements.  Accordingly,
forward-looking  statements  should not be relied upon as a prediction of actual
results  and  readers  are  cautioned  not  to  place  undue  reliance  on  such
forward-looking  statements.  The Company  undertakes no obligation to update or
revise  publicly  any  forward-looking  statements,  whether  as a result of new
information, future events or otherwise.

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