Altech Chemicals signs High Purity Alumina sales agreement with Mitsubishi

Altech Chemicals Limited has signed a sales and distribution agreement with Mitsubishi Corporation's Australian subsidiary, Mitsubishi Australia Ltd for its proposed high purity alumina (HPA) product. The Agreement appoints Mitsubishi as the exclusive seller and distributor of Altech's final HPA product to the Japanese market.

Mitsubishi is Japan's largest general trading company with more than 200 bases of operations in approximately 90 countries worldwide. Mitsubishi employs a multinational workforce of approximately 70,000 people across some 600 companies. Mitsubishi has been engaged in long-term business with customers from around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise.

In 2014, consumption of HPA in Japan was an estimated to represent 21% of estimated total global HPA demand for the year. The Japanese market will be important for Altech and the agreement reached with Mitsubishi provides the Company with the required marketing and distribution experience for its HPA in this market.

Altech's managing director, Mr Iggy Tan said that the Agreement with Mitsubishi marks another important milestone for the Company's HPA project. Mr Tan went on to say "we are delighted to partner with one of Japan's largest companies and a very reputable name worldwide".

"Altech's 4,000tpa HPA plant will position the Company not only as one of the world's largest producers of HPA, but also as one of the world's lowest cost producers of HPA", Mr Tan concluded.