Joint Stock Company "National Atomic Company "Kazatomprom"
Kazatomprom and Toshiba ?orporation established the Joint Venture on rare metals production
Astana, 29 September, 2011. JSC NAC Kazatomprom and Japanese Toshiba Corporation established a joint venture for production, sales, research and exploration of rare and rare earth metals and materials.
The state registration of the "Joint Venture "KT Rare Metals Company" Limited Liability Partnership was accomplished on September 21, 2011.
The joint venturewill aim at building up of vertically integrated company for manufacturing of high-value added products based on rare and rare earth metals.
The Foundation Agreement and the Charter of the joint venture were signedon September 8, 2011, in Almaty by JSC NAC Kazatomprom Deputy Chairman of the Board,Mr. Sergey Yashin and Executive Officer, Corporate Vice President, General Manager, Nuclear Energy Systems & Services Division, Power Systems Company, Toshiba Corporation, Mr. Kiyoshi Okamura.
The participation interest of Kazatomprom in new JV is 51%, Toshiba Corporation - 49%. Charter capital amount is 750 million tenge. The head office of the "JV "KT Rare Metals Company" will be located in Astana. It is expected that the JV will start its actual operations as early as November, 2011.
The establishment of Joint Venture with Toshiba Corporation for rare and rare earth metals-based high-tech production is the practical order realization of the President of the Republic of Kazakhstan, Mr. Nursultan Nazarbayev, after his official state visit to Japan in June 2008.
Joint Venture "KT Rare Metals Company" is the example of successful realization of the Program of forced industrial-innovative development of the Republic of Kazakhstan, contributory to creation of knowledge-intensive final products output which will infuse an impulse for the development of native technologies, science, and personnel training in our country.
Rare and rare earth metals and its compounds have a unique batch of physical and chemical properties. They are widely used in various fields of technology instrumentation, machinery, metallurgy, nuclear engineering, radio electronics, optics, chemical and glass industry, production of various phosphors, as well as in agriculture and medicine. Rare and rare earth metals are more and more being used as main materials for critical parts and components of complex devices. Without them one can hardly imagine production of modern engines and turbines, superconducting materials, medical equipment, high power but compact permanent magnets, high-end computers, air and space equipment, catalysts and rechargeable batteries, including for electric-cars.
Toshiba Corporation is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning information and communications equipment and systems; Internet-based solutions and services; digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems and household appliances. Toshiba was founded in 1875, and today operates a global network of more than 740 companies, with more than 200,000 employees worldwide. Visit Toshiba's web site at www.toshiba.co.jp/index.htm
NAC Kazatomprom JSC is a national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 23,000 employees and is amongst the leading uranium production companies in the world.
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