In a strategic move to strengthen its footprint in the automotive aluminium sector, ALMAC announced on Wednesday, May 21 that it has invested an additional $7.5 million (approximately 10.4 billion won) in AR Aluminum through a shareholder rights offering. This marks the second round of equity investment, bringing ALMAC’s total commitment to the venture to $10 million.
EA IAL Aluminum, a joint venture formed by ALMAC and a US manufacturer, focuses on producing billets and extruded aluminium products for high-performance automotive applications.
This latest injection of capital underscores ALMAC’s long-term vision to dominate the lightweight metals arena. The company emphasised that the move builds on a foundational investment agreement signed in 2023.
Adding to its industrial momentum, AR Aluminum has commenced operations of the nation’s largest 9,000-ton super-large extruder at its Sacheon facility in South Gyeongsang Province—an engineering milestone poised to ramp up production scale and capability.
Also read: Monomoy Capital Partners finalises sale of aluminium extrusion manufacturer Astro Shapes
In parallel, ALMAC and AR Aluminum are making headway on the sustainability front. The duo recently secured a government contract to advance low-carbon aluminium production technologies, positioning themselves at the forefront of green innovation in the materials industry. With this dual-pronged strategy of scaling production and pioneering low-carbon solutions, ALMAC is charting a bold course in reshaping the future of automotive materials.
Image Source: ALMAC
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