# Kobe Steel and Novelis close aluminum joint venture in Ulsan, South Korea

Kobe Steel and Novelis Korea completed arrangements to establish Ulsan Aluminum, Ltd., a 50-50 joint venture in Ulsan, South Korea, to produce aluminum rolled products with a capacity of approximately 300,000 tons per year.

- Type: Acquisition
- Announced: 2017-09-29
- Where: Ulsan, South Korea, South Korea
- Value: $315.0M
- Jobs: 600
- Status: completed
- Capacity: 300,000 tons per year
- Products: aluminum rolled products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Novelis](https://endata.com/companies/2475.md)
- [Kobe Steel](https://endata.com/companies/6583.md)
- [Novelis](https://endata.com/companies/2475.md) (partner)
- [Kobe Steel](https://endata.com/companies/6583.md) (acquirer)
- [Kobe Steel](https://endata.com/companies/6583.md) (partner)
- [Novelis Korea](https://endata.com/companies/24166.md) (partner)
- [Ulsan Aluminum](https://endata.com/companies/24179.md) (partner)
- [Ulsan Aluminum](https://endata.com/companies/24179.md) (target)

## Sources

- [kobelco.co.jp](https://www.kobelco.co.jp/english/releases/1197772_15581.html), 2017-09-29: "Plans call for Ulsan Aluminum to provide Kobe Steel with a stable supply of cold-rolled aluminum."
- [steeldaily.co.kr](https://www.steeldaily.co.kr/news/articleView.html?idxno=124700), 2017-09-29: "This strategic partnership will accelerate Novelis's ongoing efforts for the growth of the Asian automotive industry and strengthen our capacity to meet the increasing demand for aluminum sheet."
- [scrapmonster.com](https://www.scrapmonster.com/news/aluminum/novelis-announces-successful-completion-of-kobe-steel-joint-venture/65950), 2017-10-03: "Novelis has sold 50% of its ownership interest in Ulsan facility for a sum of $315 million."
- [shinkim.com](https://www.shinkim.com/eng/media/case/3446), 2017-10-05: "Novelis, a multinational industrial aluminum company, is the world leader in rolled aluminum products and recycling, and the largest global producer of automotive and beverage can sheet."
- [nna.jp](https://www.nna.jp/news/1674958), 2017-10-17: "Kobe Steel has completed the establishment of a joint venture, Ulsan Aluminum, by acquiring a 50% stake in a new company carved out of Novelis Korea for USD 315 million."
- [ombudsman.kotra.or.kr](https://ombudsman.kotra.or.kr/us-en/bbs/i-1426/detail.do?ntt_sn=472498), 2017-10-20: "Novelis Korea and Kobe Steel have launched a joint venture in the city."

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