News Room 2013
UACJ Enters Capital Participation in South Korean Aluminum Processing and Sales Company
October 3, 2013
UACJ Corporation and Marubeni Metals Corporation (HQ: Chiyoda-ku, Tokyo; President: Shinji Shindo) jointly signed a capital and management participation agreement with the South Korean aluminum processing and sales company FSP Co., Ltd. (HQ: Asan, Chungcheongnam-do; President: Hak-Joon Kim; Capitalization: 100 million won). FSP is a wholly owned subsidiary of the South Korean aluminum processing and sales company Prism Korea Co., Ltd. (HQ: Yongin, Gyeonggi-do; President: Hak-Joon Kim; Capitalization: 100 million won). The agreement was signed September 24.
In South Korea, which accounts for more than 40% of global production of LCD panels, demand is expected to increase for the thick aluminum plate used in liquid-crystal and semiconductor manufacturing equipment. Aiming to become a one-stop supplier of these products, UACJ has entered into this capital participation agreement with FSP, its leading business partner in South Korea.
By combining UACJ’s high-precision thick aluminum plate production technologies and product development capabilities with the technologies for processing aluminum and other metals that FSP possesses, such as for cutting, machining and welding thick aluminum plate, FSP’s ability to respond to demand in the South Korean market, and Marubeni Metals’ global network, UACJ aims to provide high-quality thick aluminum plate and processed products in markets and regions slated for high rates of growth.
| Name | : | FSP Co., Ltd. |
|---|---|---|
| Established | : | December 28, 2011 |
| Headquarters/factory | : | Asan, Chungcheongnam-do, South Korea |
| Ownership | : | Prism Korea: 55%; UACJ: 40%; Marubeni Metals: 5% (Following our investment) |
| President | : | Hak-Joon Kim |
| Capitalization | : | 100 million won |
| Primary equipment | : | Double-column machining center with five-face machining equipment, welding machines/welding robots, etc. |
| Businesses | : | Processing and sale of aluminum |
(From left) Shinji Shindo , President, Marubeni Metals;
Hak-Joon Kim, President & CEO, Prism Korea;
Kiyoshi Tanaka, Director and Managing Executive Officer , UACJ