Furukawa Sky and Mitsui invest in Chinese aluminum firms
Wednesday, 14 Oct 2009
ABN reported that Furukawa Sky Aluminum Corporation will team up with Mitsui & Company to take large equity stakes in 2 makers of rolled aluminum products in China.
Both Chinese firms are aluminum rolling subsidiaries of Guangdong Dongyangguang Aluminum Company Limited, manufacturing and marketing such products as aluminum foils for condensers and fins for air conditioners.
Furukawa Sky and Mitsui will invest several billion yen to purchase existing shares participate in the management of the 2 Chinese companies. Furukawa Sky will own a 25% stake and Mitsui a 20% stake in each.
Furukawa Sky, which aims to develop new customers in China will also transfer technology to the Chinese firms to manufacture high value added products such as automobile radiators for markets both inside and outside China.
