Sumitomo Light Metal Led Group to Acquire ARCO Aluminum

Sumitomo Light Metal Industries and Furukawa-Sky Aluminum announced on Monday the consortium agreed Houston based BP Company North America to purchase all share of ARCO Aluminum, which is Louisville based wholly owned US rolled aluminium making subsidiary of BP Company North America, for US$ 680 million. Sumitomo Corporation, Itochu Corporation and Itochu Metals Corporation join in the consortium. The consortium partners enter into the world largest can materials market of North America by participating in ARCO Aluminum while Sumitomo Light Metal Industries and Furukawa-Sky Aluminum provide technical support to ARCO Aluminum.

ARCO Aluminum has 45% share in Logan Mill, which is one of the world largest can materials specialized rolled aluminium plants, and 60% share in Logan Aluminum, which is the operator of Logan Mill. The partner of Novelis Corporation has 55% share in Logan Mill and 40% share in Logan Aluminum.

Sumitomo Light Metal has 40% share in the consortium’s joint holding company. Furukawa-Sky Aluminum has 35% share in the joint company with 20% share by Sumitomo Corporation, 2% share by Itochu Corporation and 3% share by Itochu Metals Corporation.