News Release
Notice of Establishment of a Joint Venture Company in North America
October 24, 2019
Nippon Light Metal Holdings Company, Ltd.
Nippon Light Metal Company, Ltd.
Nikkeikin Aluminium Core Technology Company, Ltd.
ITOCHU Metals Corporation
Notice of Establishment of a Joint Venture Company in North America
Nippon Light Metal North America, Inc. (headquarters: Ohio, U.S.A.; President: Katsu Nakajima; hereinafter referred to as “NLMNA”), a wholly owned subsidiary of Nippon Light Metal Co., Ltd., and ITOCHU Metals Corporation (headquarters: Minato-ku, Tokyo; President & CEO: Tsuguyoshi Nakatani; hereinafter referred to as “ITOCHU Metals”) have reached an agreement to establish a joint venture company in the United States to be engaged in development, manufacturing and distribution of aluminum components for automobiles.
| In the medium-term management plan that began in fiscal 2019, Nippon Light Metals Group has defined “allocation of resources aimed at growth” as one of the pillars of its basic policy, setting the target of allocating resources more aggressively in business fields and regions that can leverage the Group’s strengths. Meanwhile, within Nippon Light Metals Group, Nikkeikin Aluminium Core Technology Company, Ltd., the Group’s core processing company, has been driving the business of manufacturing and distribution of aluminum components for automobiles in Japan and China. As tighter environment regulations are implemented around the world and the need for lighter-weight vehicles grows, it is expected that demand for aluminum products will also expand further in North America. In establishing a new base in North America, Nippon Light Metals Group will seek to strengthen its global supply structure by drawing on ITOCHU Metals’ business experience and network, and will strive to achieve further growth and business expansion as a corporate group that continues to create new value for its customers. |
| Name | ： | Nippon Light Metal Georgia, Inc. (NLMGA) | |
| Date of establishment | ： | November 2019 (scheduled) | |
| Location | ： | Adairsville, Georgia, U.S.A. | |
| Capital | ： | USD16 million (JPY1, 760 million at JPY110 /USD1) | |
| Shareholder composition | ： | NLMNA - 90%; ITOCHU Metals - 10% | |
| Representative | ： | Katsu Nakajima President | |
| Description of business | ： | Aluminum suspension components for automobiles | |
| Capital investment | ： | JPY5 billion (aggregate for the period up to 2024) | |
| Business scale | ： | JPY8 billion (2027 plan) |
| November 2019 | Establishment of joint venture company | ||
| January 2020 | Commencement of new plant construction | ||
| 2022 | Commencement of full operations (scheduled) |
| Trade name | ： | Nippon Light Metal North America, Inc. | |
| Location | ： | Ohio, U.S.A. | |
| Representative | ： | Katsu Nakajima, President | |
| Established | ： | April 24, 2017 | |
| Capital | ： | USD0.5 million (Nippon Light Metals Company, Ltd. 100%) |
| Trade name | ： | ITOCHU Metals Corporation | |
| Head office address | ： | 5-1 Kita-Aoyama 2-chome, Minato-ku, Tokyo | |
| Representative | ： | Tsuguyoshi Nakatani, President & CEO | |
| Established | ： | July 1996 | |
| Capital | ： | JPY700 million (ITOCHU Corporation 100%) |
For PDF printing
Notice of Establishment of a Joint Venture Company in North America (PDF)
Contact
| Public Relations Office Nippon Light Metal Co., Ltd. (Tel +81-3-5461-9333) |
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| Corporate Planning & Administration Division ITOCHU Metals Corporation (Tel +81-3-3497-7137) |