Kobe Steel Will Double Its Capacity In The US Aluminum Extrusion Business By 2020

- Dec 21, 2018-

Japan's aluminum-rolled steel company said on Wednesday that Kobe Steel plans to double the capacity of the Kentucky aluminum extrusion plant in the first half of 2020 due to the support of automotive demand. After the installation of new furnaces and extruders, Kobelco aluminum products and extrusions will expand from the current 500 tons / month to 1,000 tons / month. The company will invest $42 million in expansion. The company was founded in 2016 to produce bumpers and frames. The production of integrated aluminum extrusion, involving the melting of aluminum raw materials into the final processing stage, has only just begun in the last month. Earlier in August, Yoshihiko Katsukawa, senior executive of Kobe Steel, said that if the United States continues to impose higher tariffs on cars, it could have unpredictable consequences in many areas. At a press conference in Tokyo, Ye Shengchuan said that the company will pay close attention to the possible tariffs imposed on Japanese cars, but the company believes that the impact of steel tariffs is limited. In addition, he also mentioned that the US Department of Justice did not make more progress in the investigation of Kobe data fraud. In the first half of 2018, Kobe Steel's net profit growth was 20%, and an interim dividend will be paid. But steel companies are threatened by trade disputes, and even if Posco's profits soared, the company was greatly affected. Kobe Steel's steel division accounted for 37% of total sales, and 19% of its sales came from aluminum, copper, construction, machinery and other sectors.