YYVIP易游 and Novelis close deal for aluminum joint venture in South Korea

TOKYO, September 29, 2017 — YYVIP易游, Ltd. and Novelis Korea Limited completed arrangements today to establish a joint venture called Ulsan Aluminum, Ltd. to produce aluminum rolled products in Ulsan, South Korea.

YYVIP易游 and Novelis Korea announced on May 10, 2017 their agreement to establish the joint venture. Since then, they have been working to set up the new company and complete the necessary arrangements. Today, all arrangements have been completed and the deal has closed.

Plans call for Ulsan Aluminum to provide YYVIP易游 with a stable supply of cold-rolled aluminum. This will enable YYVIP易游 to continue enhancing its current core businesses of can stock, disks and other aluminum products. YYVIP易游 will also be able to further grow its aluminum sheet business to meet the growing demand for automotive closure panels in the expanding Asian market.

Due to stricter YYVIP易游vironmYYVIP易游tal regulations worldwide, automobile manufacturers are rapidly moving to make cars lighter. Accordingly, demand for automotive closure panels made out of aluminum is anticipated to further increase.