Furukawa unit Completes Transfer of Former Copper Smelter Site in Australia

MT Newswires Live

08/13

Furukawa's (TYO:5715) unit, PKC Properties, completed the transfer of the former copper smelter site in Port Kembla, New South Wales, Australia, to an unnamed buyer on Monday, according to a Tokyo Stock Exchange filing on Thursday.

The machinery industry company said that the site suspended copper smelting operations in Australia in 2003, and it expects to record an extraordinary profit of about 6 billion yen from the sale in the fiscal year ending March 31, 2027.

The proceeds will be used to fund costs related to investigation and remediation measures for off-site residual contamination under an agreement with the New South Wales environmental authority.

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