# Sumitomo Corp eyes 20% stake in Press Metal Bintulu

Sumitomo Corp has signed an MOU to acquire a 20% stake in Press Metal Bintulu Sdn Bhd, a subsidiary of Press Metal Bhd, which will operate an aluminium smelting plant in Samalaju Industrial Park, Sarawak.

- Type: Acquisition
- Announced: 2026-11-07
- Where: Samalaju Industrial Park, Sarawak, Malaysia
- Status: announced
- Products: aluminium ingots, aluminium billets
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Sumitomo Corporation](https://endata.com/companies/6281.md) (acquirer)
- [Press Metal](https://endata.com/companies/46123.md) (target)
- [Press Metal Bintulu Sdn Bhd](https://endata.com/companies/94991.md) (target)

## Sources

- [theedgemalaysia.com](https://theedgemalaysia.com/article/sumitomo-eyes-20-stake-press-metal-subsidiary), 2026-11-07: "The MOU has been entered into to record the understanding between the parties in respect of the vendor’s (PMB) intention to dispose of twenty percent (20%) equity interest in the target company to the purchaser."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.