Three Japanese Aluminum Giants Invest on Chinese Magnetism Joint Venture

Three Japanese Aluminum Giants said on Nov. 22 that they will invest on Shanxi Jin Wei Magnetism Joint Venture. They are Kobe Steel, Sumitomo Light Metal Industries Ltd and Furukawa-Sky Aluminum Corporation. That is their first time to invest on foreign company. Taiyuan Yi Wei Magnetism Co., Ltd. Offer 51% fund for the joint venture, the left 49% was supply buy the three giants and the shocks holders . This joint venture invested 600 million yen to build a factory in China, this company plan to put into production in next March. Then its magnetism production capacity will be 6,000 ton per year. 2,940 of them exported to Japan. Data said that China magnetism production takes up 80% of the world’s output.