Kobe Steel and Alcoa to end joint ventures, but expand alliance
Japanese steelmaker Kobe Steel Ltd. and Pittsburgh based world's largest aluminium producer Alcoa both decided to end their 50/50 joint ventures for aluminium can stock
production as same did not succeed in meeting the expectations of two companies and operate each joint venture seperately. According to this decision Kobe Steel will take control of Kaal
Japan formed in 1993 whereas Alcoa will take copntrol of Kaal
Australia established in 1996.
Moreover, two companies declared that they have signed an agreement to expand their aluminium alliance created in order to develop aluminium products for the
automotive industry worldwide.