Mitsui Mining & Smelting Exits European Copper Foil Market

Mitsui Mining & Smelting announced on Monday the firm assigned its 100% subsidiary in France to produce electrolytic copper foil, Mitsui-Eurocel S.A.S. to French investment fund, Green Recovery on February 23. Mitsui Mining & Smelting withdrew from European copper foil market by transfer of all businesses and employees of the subsidiary to the fund. Mitsui Mining & Smelting focuses its managerial resources into the rest offshore production bases in USA, Taiwan and China, especially to Asian bases.Mitsui-Eurocel S.A.S. has produced electrolytic copper foil applied to printed circuit boards since 1985, established in Dives-sur-Mer France with 1.23 billion yen of capital investment. The subsidiary had 79 employees at the end of January 2007. The annual sales were 2.7 billion yen in fiscal 2005 ended March 2006 and is estimated to become 4.5 billion yen in fiscal 2006.