Sumitomo Light Metals Plans 35B Yen Capex by F2010

Sumitomo Light Metal Industries announced on Friday its new mid-term management plan for fiscal 2007-2010 starting April to expend consolidated 35 billion yen. The parent company expects the sales growth by 2% per annum for aluminium plate and by 3% for aluminium extrusion though the sales are flat for copper fabricated products.Sumitomo Light Metals carried out total 36 billion yen capex during fiscal 2001-2006 and the firm plans almost same capex for next 4 years toward fiscal 2010. For fiscal 2007-2010 the firm plans to invest 25 billion yen for the aluminium rolling business unit, 3 billion yen for the copper fabricating business unit, 2 billion yen for research and development and 5 billion yen for the group companies. Sumitomo Light Metals Group will advance safe and environmental responsiveness, strengthen the strategic business units and develop technologies to make the metal products thinner and lighter. The parent company plans 30 billion yen capex for next 4 years. The firm aims to expand the aluminium plate sales by 28,000 tonnes to 360,000 tonnes in fiscal 2010 compared with fiscal 2006 and the aluminium extrusion sales by 7,000 tonnes to 56,000 tonnes. The sales volume of copper fabricated products is estimated to keep flat at 61,000 tonnes in fiscal 2010 from fiscal 2006. Sumitomo Light Metals will advance thinning and surface treating technologies for aluminium plate toward fiscal 2010, while the firm seeks higher values addition for aluminium extrusion. The firm also advances higher functions and lightening technologies for copper fabricated products. As to processed products, the firm targets even higher qualities.