Notice Concerning Completion of Acquisition of Shares in U.S. Rolled Aluminum Sheet

To whom it may concern:
Company Name: Sumitomo Light Metal Industries, Ltd.
Representative: Shigenori Yamauchi, President
Stock Code Number: 5738, First Section of TSE and OSE
Contact: Teruo Kawashima, General Manager of Treasury Department
Tel: +81-3-3436-9771

Notice Concerning Completion of Acquisition of Shares in U.S. Rolled Aluminum Sheet Manufacturer & Supplier

Sumitomo Light Metal Industries, Ltd. (Minato-ku, Tokyo; Shigenori Yamauchi, President; hereinafter “SLM”) hereby announces that a Consortium consisting of SLM and its joint partners* executed and completed the acquisition of 100% of the outstanding shares of ARCO Aluminum, Inc. (Louisville, Kentucky; Patrick Franc, President; hereinafter “ARCO”) from BP Company North America Inc. (Houston, Texas, USA; Steven Bray, President; hereinafter “BP”) at an acquisition price of US$ 680 million on August 1, 2011, in line with the schedule announced on April 4, 2011. ARCO was a wholly owned subsidiary of BP, serving as a manufacturer and supplier of rolled aluminum sheet.
*The joint partners (hereinafter, together with SLM, collectively “the Partners”) are:
Furukawa-Sky Aluminum Corp. (Chiyoda-ku, Tokyo; Masateru Yoshihara, President & CEO; hereinafter “Furukawa-Sky”)
Sumitomo Corporation (Chuo-ku, Tokyo; Susumu Kato, President and CEO; hereinafter “Sumitomo Corp”);
ITOCHU Corporation (Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”); and
ITOCHU Metals Corporation (Minato-ku, Tokyo; Masaki Oka, President & CEO; hereinafter “IMC”).
The shares were subscribed by the Partners with the following ownership ratio:
SLM: 40%; Furukawa-Sky: 35%; Sumitomo Corp: 20%; ITOCHU: 2% and IMC: 3%
???In addition, ARCO changed its name to Tri-Arrows Aluminum Inc. (hereinafter “TAA”) effective August 1,2011.

TAA owns an approximate 45% interest in the aggregate assets of Logan Mill (unincorporated joint business venture), an aluminum rolling mill that is one of the world’s largest producers of aluminum sheet for beverage can makers, and also owns a 60% stake in Logan Aluminum Inc. (Russellville, Kentucky, USA; Randy Schumaker, President), the operator of Logan Mill. Logan Mill is jointly owned with Novelis Corporation (Atlanta, Georgia, USA; Philip Martens, President & CEO; hereinafter “Novelis”).  Both TAA and Novelis individually supply their own primary metal inputs to Logan Mill for processing and own and market their own share of output.

SLM expects the acquisition to leverage its business activities, secure a presence in the North American and Latin American markets and accordingly enhance its strength in the global market.

1. Profile of Tri-Arrows Aluminum Inc. (formerly known as ARCO Aluminum, Inc)

Company Name Tri-Arrows Aluminum Inc. (formerly known as ARCO Aluminum, Inc)
Establishment: 1984
Headquarters Address: 9960 Corporate Campus Drive, Suite 3000, Louisville, Kentucky 40223
Registered Capital: US$ 1,000
Representative: President and Chief Executive Officer – Patrick Franc
Main Business: Manufacturing and distribution of aluminum products
Annual Turnover: Approximately US$ 900 million (2010)
Annual Volume: Approximately 300,000 tons (2010)

2. Impact on the Business Results of SLM
???SLM has already included the estimated impact of the acquisition on the business results for the fiscal year ending March 31, 2012 in the earnings forecast that was announced on May 13. 2011.