Sumitomo Corp to Participate in Al Smelter in Malaysia

Japanese major trade firm, Sumitomo Corporation announced the firm participates in US$ 300 million aluminium smelting project with 120,000 tonnes annual output capacity in Malaysia. The firm acquires 20% share in Press Metal Sarawak, in which Malaysian largest extrusion maker and the project promoter of Press Metal Berhad has 80% interest.

Sumitomo Corporation and Press Metal agreed Sumitomo Corporation has options to get additional 5% share in Press Metal Sarawak and to participate in US$ 600 million second phase of the project, which will reach full capacity operation of 240,000 tonnes by end of 2012.

Sumitomo Corporation has investment in aluminium smelters in Australia, Brazil and Indonesia and trades primary aluminium in Japan and Asia.