ΕΛΒΑΛ Α.Ε.
Memorandum of Understanding between ELVAL S.A. and Furukawa - Sky Aluminum Corp..
ELVAL S.A., Furukawa - Sky Aluminum Corp. and the wholly owned subsidiary of ELVAL in the U.K., Bridgnorth Aluminium Ltd have signed a Memorandum of Understanding, according to which Furukawa - Sky Aluminum Corp. will acquire the 25% of the share capital of Bridgnorth Aluminium Ltd through capital increase of the latter. The capital increase will be used for the expansion of the company's production capacity.
The Memorandum of Understanding also includes the signing of a Technology Transfer Agreement from Furukawa - Sky Aluminum Corp. for the continuous development and quality superiority of the products as well as the production efficiency of Bridgnorth Aluminium Ltd.
Bridgnorth Aluminium Ltd is focused on the production of lithographic strip and holds the third position in the world in terms of market share by volume.
Furukawa - Sky Aluminum Corp. is the biggest aluminium rolled products manufacturer in Japan, with which ELVAL has already a long term technical support agreement and have jointly established in Greece AFSEL, a company for marketing aluminium products used for manufacturing heat exchangers for the automotive industry.
The Memorandum of Understanding also includes the signing of a Technology Transfer Agreement from Furukawa - Sky Aluminum Corp. for the continuous development and quality superiority of the products as well as the production efficiency of Bridgnorth Aluminium Ltd.
Bridgnorth Aluminium Ltd is focused on the production of lithographic strip and holds the third position in the world in terms of market share by volume.
Furukawa - Sky Aluminum Corp. is the biggest aluminium rolled products manufacturer in Japan, with which ELVAL has already a long term technical support agreement and have jointly established in Greece AFSEL, a company for marketing aluminium products used for manufacturing heat exchangers for the automotive industry.