Rolled-aluminium manufacturer Gränges AB and Japan’s Mitsubishi Aluminum Co., Ltd. announced a new joint venture between the two firms last week. The North American venture will see the two firms cooperate in the production of advanced aluminium materials for use in brazed automotive heat exchangers.
According to the announcement, the as-yet named joint venture will be formally established next year. No further details were made available at the time of the announcement.
Gränges CEO Johan Menckel was optimistic that the joint venture would be the first step in a partnership between the two companies in producing other specialty aluminium parts for the automotive sector.
“The agreement with Mitsubishi Aluminum marks a start for a long-term partnership in North America. We will leverage our strengths and together capture opportunities in the market for advanced aluminium products to mainly the automotive industry, for brazed heat exchangers but also for other products.”
Mitsubishi Aluminum Co., Ltd.’s president and CEO Akio Hamaji touted the mutual benefits of the partnership in the area of aluminium innovation.
“We remain focused on growing our presence in automotive heat exchanger materials in North America. We see many synergies with Gränges, most importantly, absolute focus on research and innovation to meet the growing demands of our automotive customers. We are excited and look forward to a long-term partnership with Gränges.”
Begun in 1873 in Stockholm, Sweden as Trafik AB Grängesberg-Oxelösund, Gränges AB was resurrected in 2013 as a private company specializing in rolled aluminium heat exchangers. It employs almost 1,000 employees at the present time at two plants – one in Finspång, Sweden, that opened in its present configuration in 1972, and a second in Shanghai, China, opened in 1996. The firm boasts an annual sales total of SEK10 billion (US$1.09 billion).
Mitsubishi Aluminium Company was established in 1962 and produces aluminium, aluminium alloy mill products, and fabricated aluminium products. It is among Mitsubishi Group’s core companies.