Japanese aluminum giants to joint venture magnesium in China

Tokyo, Nov 23 -- Japanese aluminium giants -- KOBE STEEL, Furukawa -Sky Aluminium and Sumitomo Metal Industries reported to invest into a Chinese joint venture -- Taiyuan Jinwei Magnesium Co, which produces magnesium – the additive needed to produce aluminium alloy. The report said the investment is to ensure the steady supply of raw material. This is the first time the Japanese companies invest in foreign company to raise materials. The project is to come in stream in next March with capacity of 6000 tpy, of which 2,940 tons are to export to Japan.