Furukawa-Sky and Mitsui Participate in Chinese 2 Al Re-rollers

Furukawa-Sky Aluminum Corp. and Mitsui & Co. announced on Thursday the firms signed a contract for capital and management participation in Chinese 2 aluminium re-rollers controlled by Chinese aluminium business company, Guangdong Dongyangguang Aluminum. The re-rollers are Ruyuan Dongyangguang Plain Foil and Shaoguan Yangzhiguang Aluminum Foil.

Furukawa-Sky will acquire 25% equity and Mitsui will take 20% equity in each re-roller, purchasing the shares from Dongyangguang and an international investing company in Hong Kong at the end of 2009. Furukawa-Sky plans to start production of aluminium parts for automotive heat exchangers at the 2 re-rollers by offering technology assistance and start commercial sales for Chinese and overseas customers within 2010.

Ruyuan Dongyangguang Plain Foil and Shaoguan Yangzhiguang Aluminum Foil produce aluminium foil, sheet, strip and fin materials. The companies hold high market shares especially for aluminium foil applied to capacitors and aluminium fin material used in air conditioners.

Furukawa-Sky aims to organize a supply system of high functional aluiminium products, such as aluminium parts for automotive heat exchangers, utilizing Mitsui’s advanced technology and global business network. Furukawa-Sky will enhance competitiveness and corporate value of the 2 re-rollers to expand the sales, cultivate new customers and follow the demand growth.