Toyo Aluminium Takes Showa Aluminum Powder’s All Shares

Toyo Aluminium, Osaka based manufacturer of aluminium foil, paste and powder, announced on Tuesday the firm concluded share buying contract with Itochu Corporation and Itochu Chemical Frontier Corporation to acquire all outstanding shares Showa Aluminum Powder, another Japanese major maker of aluminium paste. Toyo Aluminium will gain Showa Aluminum Powder’s all outstanding shares on April 28th. Presently Itochu Corporation holds Showa Aluminum Powder’s 66% shares while Itochu Chemical Frontier Corporation 34%.

Toyo Aluminium and Showa Aluminum Powder agreed in enhancement of international competitiveness by combining each strong applications and technologies for metallic paint applied to automobiles, consumer electronics and inks. Showa Aluminum will be Toyo Aluminium’s subsidiary. Toyo Aluminium commented the firm tries to keep its world top position as a global supplier of metallic paint materials through this share acquisition.