Mitsui Supports EPMC’s Capital Increase

Mitsui & Co. announced on Friday the firm supports capital increase of Erdos Electrical Power & Metallurgical Company (EPMC), a major ferroalloy maker in Inner Mongolia, China. EPMC plans capital increase by 1.4 billion yuan. Mitsui approved 350 million yuan (approximately 4.5 billion yen) support along Mitsui’s 25% equity in EPMC. EPMC recently built up ferroalloy output capacity of 1 million tonnes per year and started chemical product business such for polycrystalline silicon and polyvinyl chloride.

EPMC recently raised its capital fund to 5 billion yuan to start polycrystalline silicon business in 2010 and polyvinyl chloride business in 2011. Mitsui maintains its 25% equity in EPMC and increased total investment in the company to 23.5 billion yen.

EPMC covers wide business fields including electric power generation and ferroalloy products. The company operates a joint venture for silicon manganese with Mitsui and JFE Steel. Mitsui will supply technology and marketing services for EPMC.