Press Release


September 15, 2017

Mitsubishi Aluminum and Gränges to Consider
Establishment of New Manufacturing Base for
Sheet Materials of Automotive Heat Exchangers
in North America

Mitsubishi Aluminum Co., Ltd. (President: Akio Hamaji; headquartered at 3-3, Shiba 2-Chome, Minato-ku, Tokyo; hereinafter referred to as the "Company") is pleased to announce that the Company has concluded a Letter of Intent with Gränges AB (CEO: Johan Menckel; headquartered in Stockholm, Sweden; hereinafter referred to as "Gränges"), a rolling manufacturer whose major products include aluminum sheet for heat exchangers, and shall begin considering the establishment of a new manufacturing base for sheet materials of automotive heat exchangers in North America.

Amid a global trend in calls for reduced automobile weight owing to increased environmental consciousness, lighter-weight aluminum is becoming popular for automotive body structures. In particular, there is a demand by manufacturers of automotive heat exchangers in North America for a local supply of clad materials, i.e., composites of two or more dissimilar metal materials, which has led the Company to begin considering the establishment of a new manufacturing base.

Gränges holds the world’s top market share in sheet materials for automotive heat exchangers (estimated at 20%). The Company believes that the establishment of a base with Gränges in North America will allow for a steady supply of higher-quality products.

In addition to co-founding the base in North America with Gränges, the Company will consider establishing an extensive range of business partner relationships with Gränges.

Both companies will proceed with discussions on the details of the conditions, aiming at the establishment of a joint venture in 2018.

Outline of Gränges AB
Factories: Sweden, China and U.S.A. (four sites)
Listing Market: Stockholm Stock Exchange
Annual Sales: SEK 10 billion (approx. 138.6 billion yen [13.86 yen/SEK])
Main Products: plate materials for heat exchangers of automobiles and air conditioners
Production Capacity: 420,000 tons
Number of Employees: About 1,600

【Contact for inquiries about this press release】
Kobayashi (phone: +81-3-3769-0111), General Administration Dept., Mitsubishi Aluminum Co., Ltd.