TOKYO -- Japanese metals company Dowa Holdings plans to devote some 37 billion yen ($329 million) over three years starting in fiscal 2018 to bolster overseas businesses, more than double the expected total for the prior three years.
For nonferrous metals, Dowa expects to finance a 20 billion yen effort to develop a zinc mine in Mexico, with operations targeted to begin in 2019. The company, which already operates the Tizapa mine in Mexico, seeks more stable supplies by procuring more zinc from its own mines, lifting the ratio from 20% now to 40% around 2019 or 2020.
Dowa also will expand its recycling business in Europe, the U.S. and Asia by increasing its number of facilities that recover platinum-group metals from catalysts used to purify automobile exhaust. The company also will add to its five waste treatment centers in Southeast Asia, constructing more facilities in Thailand and Indonesia while also considering neighboring nations like Malaysia.
The company expects consolidated pretax profit of 36.5 billion yen for the year ending in March, but aims for 50 billion yen in fiscal 2020 as overseas operations expand.