CHICAGO Wise Metals Group LLC and Toyota Tsusho Corp. are mulling a joint venture to produce aluminum sheet for the automotive industry.
The sheet would be produced at Wises facility in Muscle Shoals, Ala., also the headquarters of the flat-rolled aluminum producer, Wise said Nov. 6.
Nagoya, Japan-based trading company Toyota Tsusho and Wise have entered into a memorandum of understanding to do a feasibility study about the joint venture, with the study expected to be completed by March 2014, Wise said.
Wise did not provide any investment figures for the potential joint venture.
Wise includes Wise Alloys LLC, also based in Muscle Shoals, the worlds third-largest producer of aluminum can stock for the beverage and food industries, according to the companys website.