Marubeni Corp to Acquire Additional Interest in Alouette Al Smelter

Marubeni Corporation announced on Tuesday the firm acquires additional interest in Alouette aluminium smelter of Canada. Marubeni Corp presently holds 6.67% shares in Alouette while raises the interest to 13.33% in spring 2012. Marubeni Corp will invest approximately 34 billion yen as total for Alouette including the scheduled capacity expansion project.

Marubeni Corp agreed with Investissement Quebec in acquisition of additional 6.66% shares in Alouette at US$ 180 million (approximately 14 billion yen). In Alouette, Rio Tinto Alcan holds 40% interest and each 20% interest shared by Norsk Hydro and Austria Metall.

Alouette’s production capacity is approximately 575,000 tonnes per year, which is the largest aluminium smelter in North America. The expansion project is undergoing to raise the output capacity by 60% to 930,000 tonnes per year in 2016. Construction works will cost total C$ 2 billion and Marubeni Corp will invest around C$ 254 million (approximately 20 billion yen).

Marubeni Corp holds interests in other aluminium smelters, too. The firm holds 22.5% shares in Portland aluminium smelter of Victoria, Australia or 8% shares in Boyne smelter of Queensland, Australia. After the acquisition of additional interest in Alouette and completion of Alouette’s capacity expansion, Marubeni Corp’s total interest in aluminium smelting business will total 240,000 tonnes per year in 2016 from current 160,000 tonnes. Marubeni Corp estimates this is the largest share among Japanese general trading houses.