Kobe Steel & Novelis JV

Kobe Steel, Ltd. and Novelis Korea Limited, a wholly owned subsidiary of Novelis Inc., have entered into a definitive agreement to establish a joint venture in South Korea that will produce aluminium sheet products.   Kobe Steel plans to acquire 50 percent of the Ulsan Plant of Novelis Korea, for US$315 million (about 35 billion yen). The joint venture, to be named Ulsan Aluminum, Ltd., is anticipated to be established at the end of September 2017, when the deal is expected to close.   The joint venture will undertake production, with each parent company responsible for…