Furukawa-Sky and Mitsui Take Equity in Chinese 2 Al Foil Makers

Furukawa-Sky Aluminum Corporation announced on Thursday the firm and Mitsui & Co., Japanese major trading house, concluded a memorandum of understanding to take maximum 45% equity in Chinese 2 aluminium foil manufacturers of Guangdong Dongyangguang Aluminum Group. Furukawa-Sky aims to meet strong demand for rolled aluminium products and expand the sales mainly for Japanese customers’ sites in the country through this stake acquisition and technology cooperation.

Both foil makers are based in Ruyuan, Shaoguan of Guangdong Province. One company was established in June 2002, whose current revenue is 870 million yuan per year (approximately 13.1 billion yen) and sales volume is 20,000 tonnes per annum with 500 employees. The other company was established in November 2005, whose revenue is 690 million yuan per year (approximately 10.4 billion yen) and sales volume is 20,000 tonnes per year with 230 employees.