Announcement Regarding Merger of Our Processed Products Companies
December 26, 2005
In order to concentrate our management resources and to fortify our competitive positioning in our Group's processed products business, we have decided to merge our 100% owned subsidiaries Furukawa-Sky Techno Co., Ltd. (headquarters: Fukaya City, Saitama Prefecture, President: Tatsuru Matsuoka, capitalization: ¥100 million, business: aluminum processed product manufacturing, equipment manufacturing, service and maintenance) and Sky Alumi Products Co., Ltd. (headquarters: Fukaya City, Saitama Prefecture, President: Johei Wada, capitalization: ¥10 million, businsess: aluminum processed product sales), maintaining Furukawa-Sky Techno as the surviving company. The details of the merger are provided below.
|Company name||:||Furukawa-Sky Techno Co., Ltd.|
|Established||:||January 1, 2006|
|Ownership||:||100% owned by Furukawa-Sky Aluminum Corp.|
|Headquarters||:||Uenodai 1351, Fukaya City, Saitama Prefecture|
|Sales||:||¥600 million in FY2006
¥850 million in FY2007
|Business||:||Manufacturing of aluminum welding processed products (preribbed plates, wheel barrows, parabolic antenna, electrical switch boxes, tanks), machining-processed aluminum products (covers, sound absorbing products), functional materials and other processed products (superplasticity formed products, far-infrared materials, heat sinks)|
< Earnings Impact >
We do not anticipate this merger to have any impact upon our earnings.