GBC Metals, LLC, Announces Sale of Its Interest in Japanese Joint Venture to Dowa Metaltech along with Establishment of Long-Term Technology License and Supply Agreements
By Business Wire News
GBC Metals, LLC (d/b/a Olin Brass), announced today the sale of its 50% share of the Dowa-Olin Metal Corporation (“DOM”) to its joint venture partner, Dowa Metaltech Co. Ltd. (“Dowa Metaltech”), of Japan. Terms of the sale were not announced. Dowa Metaltech will now own 100% of DOM.
DOM is a marketing and sales company that was originally established by Olin Brass and Yamaha Corporation in 1987. Dowa Metaltech purchased Yamaha’s 50% share of DOM in 2007. DOM markets and sells both Olin Brass and Dowa Metaltech proprietary copper-based alloys to the electronics industry in Asia. The alloys are manufactured in Dowa Metaltech’s wholly-owned strip mill facilities in Japan.
Under the terms of the sale, Olin Brass will license its alloy technologies to Dowa Metaltech so that the materials can continue to be manufactured and sold in Asia. In addition, the parties entered into a long-term supply agreement whereby Dowa Metaltech will sell these alloys back to Olin Brass to support its customer base in Asia.
“We are very pleased to continue our strong relationship with Dowa Metaltech through these new arrangements,” commented John J. Wasz, Chief Executive Officer of Global Brass and Copper Holdings, Inc. “Dowa Metaltech will continue its outstanding quality manufacturing of these important alloy systems under a technology and royalty agreement with Olin Brass, and it will supply these materials to Olin Brass for our key electronic customers in Asia. It’s a positive arrangement for both companies.”
About GBC Metals, LLC
GBC Metals, LLC (d/b/a Olin Brass), is the leading manufacturer and converter of copper and copper-alloy sheet, strip, foil, tube and fabricated components in North America. While primarily processing copper and copper-alloys, Olin Brass also rerolls and forms other metals such as stainless and carbon steel. Olin Brass’s products are used in five primary end markets: building and housing, munitions, automotive, coinage, and electronics/electrical components.
GBC Metals, LLC (d/b/a Olin Brass)
Howard McCready, 203-597-5045