Daiki Aluminium Industry announced on Thursday the firm establishes Indonesian plant and Philippine subsidiary. The Indonesian plant will start operation in April 2011. With the new plant with 2,500 tonnes of monthly output capacity, the firm has 4 offshore production bases.
The firm already established Indonesian sales company in April. The new production plant is belonged to the sales company. The firm tries to get approval to construct the new 1.1 billion yen plant with 42,000 square meters of land. After the approval, the sales company renames into Daiki Aluminium Industry Indonesia from current Daiki Aluminium Indonesia. The firm also increases the capital in September and January 2011. Daiki Aluminium Industry also establishes Philippine joint venture with O. M. Manufacturing Philippines to make secondary alloyed aluminium. Daiki Aluminium Industry controls 60% of the venture, Daiki Aluminium Industry (Philippines) with 40% share by the partner. The joint venture with 70 million yen of capital makes several 10 tonnes of alloy per month with existing facility owned by the partner and builds new plant to expand the monthly output to 500 tonnes. Daiki Aluminium Industry reported 442 million yen of consolidated recurring profit for April-June compared with 1.541 billion yen of loss for same period of 2009. The profit was 43.3% lower than January-March. The sales volume increased by 35.6% to 56,000 tonnes from April-June 2009.Japan Steel Scrap Composite Prices (Sangyo Press)
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