# Kobe Steel acquires 50% stake in Ulsan aluminum smelter

Kobe Steel agreed to pay $315 million for a 50% stake in an aluminum smelter in Ulsan, South Korea, from Novelis. The smelter produces 300,000 tons of cold-rolled aluminum annually.

- Type: Acquisition
- Announced: 2024-01-15
- Where: Ulsan, South Korea, South Korea
- Value: $315.0M
- Status: announced
- Capacity: 300,000 tons per year
- Products: cold-rolled aluminum
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Novelis](https://endata.com/companies/2475.md) (target)
- [Kobe Steel](https://endata.com/companies/6583.md) (acquirer)

## Sources

- [haythink.com](https://www.haythink.com/kobe-steel-plans-to-spend-484-million-to-expand-aluminum-business/), 2024-01-15: "Kobe Steel Ltd said on Wednesday that it will spend about 55 billion yen ($484 million) to expand the aluminum business."

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