Kobe Steel and Mitsubishi Materials have agreed to merge their copper tube businesses in Japan and South East Asia, thus forming a joint venture. The joint venture will take effect as of April 1.
Kobe Steel will own 55% of the joint venture, with Mitsubishi Materials owning the remaining 45%
The joint venture will be called Kobelco & Materials Copper Tube Ltd (KMC). It will be Japan’s largest copper tube manufacturer with a local market share of 35%, as well as having a 30% share of the South East Asian region.
Copper tubes are commonly used in air conditioners and refrigerators.
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