Sumitomo Electric Unit Earmarks JPY 15.9 Billion to Build Tungsten Plant, Boost Capacity by 50%
MT Newswires Live
Apr 10
Sumitomo Electric Industries (TYO:5802) unit Allied Material plans to invest about 15.9 billion yen to build a new plant and expand equipment to boost tungsten capacity by roughly 1.5 times, according to a Thursday company statement.
The new facility, to be built near its Toyama site, is targeted to begin operations in the first half of fiscal 2028, with upgrades focused on key production processes.
The move comes amid expectations of tighter global supply and rising demand for tungsten used in cutting tools, semiconductors and electronic components.
The project has been certified by the government as part of a supply security plan for critical minerals, making it eligible for subsidies.
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