Nippon Light Metal's aluminium rolling mill will thrive by using less aluminium ingot in view of the current high ingot prices, incoming company president Takashi Ishiyama said Friday.
Speaking at a news conference in Tokyo to announce the new leadership of the company, Ishiyama said his company will be innovation-driven, face up to new challenges and launch new products.
"I want to make a group that can do this...make a group where sales and manufacturing business units are in one force," he said.
He added that aluminium products with high aluminium content is difficult to sell. "So it becomes an issue of how much value can be added, while reducing the ratio of ingot in the material costs," he said.
One cost reduction solution is to use more aluminium powder and alloys, Ishiyama noted.
Ishiyama was appointed as the president of the company during a corporate board meeting held on Friday. He will assume his new role around June this year after a shareholder's meeting. He is currently vice president and an executive officer.
Nippon Light Metal is the sole aluminium smelter in Japan, operating a 10,000 mt/year Kanbara plant in Shizuoka prefecture in central Japan. The plant makes 99.94% and 99.95% grade aluminium for electronics applications. It imports 99.7% grade ingot from overseas to make sheet, extrusion and other products.
The company produces sheet, extruded and molded products, diecasting, powder as well as alumina and chemical products. Its earnings projection for the current year ending in March 2007 is Yen 12 billion ($103 million) net consolidated profit on sales of Yen 605 billion.
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