News Room 2006 (The former Furukawa-Sky)
A Joint Venture Sales Company for a new range of aluminum products used for the production of heat exchanger materials for automobiles
December 14, 2006
Furukawa-sky announced the signing of a shareholders agreement with ELVAL(Hellenic Aluminum Industry S.A) , which is the aluminum rolled products manufacturer in Greece and a subsidiary company of VIOHALCO S.A., the biggest steel/non-ferrous metal manufacture on the Balkan area, for the establishment of a joint venture Sales Company in Greece, for marketing and selling in Europe a new range of aluminum products used for the production of heat exchanger materials for automobiles.
The Parties expect that the demand for the above products in Europe will continue to grow due to the expansion of automobile production and conduct sales and marketing for the above products in the areas to meet such growing demand and ensure global support for Japanese automobile producers and the new customers in Europe.
The profile of the new company is shown below.
| Name | : | AFSEL S.A. (tentatively) |
|---|---|---|
| Established | : | Scheduled for January 2007 |
| Head office | : | On the premises of Inofita Plant located in the suburbs of Athens, Greece |
| Capital | : | 180,000 euros |
| Investment ratio | : | 50% by Furukawa-Sky Aluminum Corp. and 50% by Hellenic Aluminum Industry S.A. |
| President | : | Takahide Ito (Advisor for Furukawa-Sky Aluminum Corp.) |
| Line of business | : | Sales and marketing of plate materials for automotive heat exchangers mainly for the European market |
| Turnover | : | About 40 million euros (about 6 billion yen) per year (Targeted for 2010) |
- (Note)
- "S.A" corresponds to "Co., Ltd." The official company name will be announced after registration.