Mitsubishi Materials to sell aluminium business to Apollo Global Management

Mitsubishi Materials Corp will sell its aluminium business, used for beverage cans and automotive parts, to U.S. investment fund Apollo Global Management for an undisclosed sum. The company will book a 29 billion yen loss as a restructuring charge.

“Although the aluminium market is expected to grow globally, Mitsubishi Materials has decided to divest its aluminium business as it is difficult to find synergies with its other businesses such as copper products for electric vehicles and cement.”reuters.com

• 1 source
• reuters.comJapan's Mitsubishi Materials to sell aluminium business to U.S. fund | ReutersNov 25, 2021

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