News Room 2005 (The former Furukawa-Sky)

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A Locally Incorporated Company Handling Production and Sales of Aluminum Extrusion Products for Automobile Heat Exchangers was Established in Tianjin, China

May 13, 2005

Furukawa-Sky is proud to announce the establishment of a new locally incorporated company, "Furukawa-Sky Aluminum (Tianjin) Corporation" in Tianjin City in the People's Republic of China. The main purpose of the company is to handle production and sales of aluminum extrusion products for automobile heat exchangers, the demands of which are expected to increase in the future. We plan to start the operation in the first half of 2006.

Recently, we established P.T. Furukawa Indal Aluminum Co., Ltd. in Indonesia (location: Gresik, Indonesia; president: Yoshiaki Sasaki; capital: US$4 million; foundation: March 1998) as a part of establishing a worldwide basis for our aluminum extrusion business. We have since expanded our production and sales of extrusion products aimed at the Southeast Asian and Australian regions. This time, we have established a new company in China where the demand is expected to increase dramatically in the future, so that we will be able to meet our Chinese customers' needs as they arise, backed up by our high technological prowess.

In the Xiqing Economic Development Area where the new company is established, two affiliated companies of our parent company, Furukawa Electric Co., Ltd., have already branched out into China. They are Furukawa Dengyo (Tianjin) Co., Ltd. (location: Tianjin, China; general manager: Masao Tokuda; capital: ¥600 million, foundation: January 2001; production/sales of bus ducts, plastic foamed products and resin products) and Tianjin Furukawa Power Component Co., Ltd. (location: Tianjin, China; general manager: Shigeru Matsumoto; capital: ¥400 million; foundation: October 2002; production/sales of molded products for power cable parts and spot welders for automobile assembling). The new company is located in the area adjacent to the aforementioned two companies.

The brief overview of the new company is presented below.

Company name
Furukawa-Sky Aluminum (Tianjin) Corp.
April 11, 2005
Xiqing Economic Development Area, Tianjin, People's Republic of China
$10 million (approximately ¥1.1 billion)
Controlling shares
100% investment by Furukawa-Sky Aluminum
General manager
Takashi Nakayama (representative director and president of Sun Sunny Kogyo, K.K.)
Employees :
Approximately 70 (estimate at production start)
Description of business
Production and sales of aluminum extrusion products, mainly metallic materials for automobile heat exchangers Production
Production capacity
Approximately 250 tons/month
Sales target
Approximately $21 million annually (approximately ¥2.2 billion) (target in 2010)
Production start
First half of 2006 (estimate)