Tokyo Aluminum Wire Co. To be Dissolved

2012-10-02 08:01:58 -

Tokyo, Oct 2, 2012 - (JCN Newswire) - Showa Denko K.K. (SDK) announces that its affiliate, Tokyo Aluminum Wire Co., Ltd., will be dissolved on September 30, 2013.

1. Outline of the company



Company name:      Tokyo Aluminum Wire Co., Ltd.

Head office:       13-9, Shiba Daimon 1-chome, Minato-ku, Tokyo

President:         Takashi Shimazu

Scope of business: Production and sale of aluminum rough drawing wire for 

                   electric cables, and aluminum alloy rough drawing wire

Establishment:     April 1965

Capital: 
  
    
      
        
        	
	    
  
            JPY 250 million

Shareholders:      Showa Denko K.K. (17%); 

                   Fujikura Ltd. (17%); 

                   Hitachi Cable, Ltd. (17%); 

                   SWCC Showa Cable Systems Co., Ltd. (17%); 

                   Furukawa Electric Co., Ltd. (17%); 

                   Tokyo Electric Power Company (13%); 

                   and Kandenko Co., Ltd. (2%) 

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2. Reasons for dissolution

Tokyo Aluminum Wire Co., Ltd., which has been producing and selling aluminum rough drawing wire for electric cables, is to be dissolved because demand for aluminum electric cables, due to new construction or replacement, will remain at a low level for many years to come.

3. Schedules

A resolution to dissolve the company will be adopted at the end of September 2013. Liquidation of the company will be completed by the end of December 2013.

4. Future prospect

The company is one of SDK's affiliates to which the equity method is applied. Liquidation of the company will have only slight influence on SDK's business results.

About Showa Denko

Showa Denko K.K. ('SDK'; TSE: 4004, US: SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and inorganic materials (ceramics, carbons). The company has overseas operations and a joint venture with Netherlands-based Montell and Nippon Petrochemicals to make and market polypropylenes. In March 2001, SDK merged with Showa Denko Aluminum Corporation to strengthen the high-value-added fabricated aluminum products operations, and is today developing next-generation optical communications-use wafers. For more information, please visit www.sdk.co.jp .

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