AR Aluminum, a joint venture established by the aluminum extrusion specialist Almac and a U.S.-based finished goods manufacturer, has carried out a rights offering worth $7.5 million, or approximately 10.4 billion KRW.
AR Aluminum primarily produces billets, which are raw materials used in aluminum extrusion, as well as extruded products.
This investment is the second round, following the initial investment made under an agreement signed in 2023. With cumulative investments now exceeding $10 million, this move is seen as solidifying a partnership with a global finished goods manufacturer, going beyond simply securing orders for individual items.
The AR Aluminum Sacheon foundry plant has secured cost competitiveness by implementing a system for refining recycled aluminum scrap. The facility covers an area of approximately 20,000 square meters and is capable of producing 100,000 tons of billets annually.
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