MAPCAN MOLTEN ALUMINUM FACILITY OPENS IN ALLISTON

-- New Environmentally Advanced Venture

To Supply Honda of Canada Mfg.’s New Engine Plant

ALLISTON, ONTARIO, June 3, 2008 --- Molten Aluminum Producer Canada (MAPCAN) celebrated the official opening today of its state-of-the-art, energy-efficient molten aluminum facility.

The company, a joint venture between the Honda Trading group of companies (65% ownership) and Asahi Seiren Co. Ltd. of Osaka, Japan (35% ownership), will supply molten aluminum to the new Honda of Canada Mfg. (HCM) Engine Plant scheduled to open this fall.

Business, governmental and diplomatic dignitaries attended the event including: Mr. Koichi Kawakami, Consul General of Japan; Mr. Rick Dykstra, Member of Parliament for St. Catharines; the Honourable Monte Kwinter, Parliamentary Assistant to the Minister of Economic Development and Trade; his Worship Mike MacEachern, Mayor of the Town of New Tecumseth; Mr. Manabu Nishimae, President and CEO, Honda Canada Inc.; Mr. Ko Katayama, President, Honda of Canada Mfg.; and, Mr. Motohide Sudo, President and CEO, Honda Trading Corporation.

“This is a clean and green operation,” said Honda Trading Corporation’s Mr. Sudo. “Material that could otherwise end up as landfill – household siding, wheels, cars and other scrap aluminum – is recycled into quality built, four cylinder Honda automobile engines. Virtually 100 per cent of the molten aluminum we supply to Honda will come from recycled material,” he said.

"MAPCAN's investment here in Simcoe-Grey is a testament to the work ethic of the people who live here," said Secretary of State Helena Guergis, MP for Simcoe-Grey. "I congratulate MAPCAN and appreciate its contribution to a growing economy in Simcoe-Grey."

Molten aluminum from the $16 million facility will be delivered to HCM’s nearby engine plant for die casting where engine components will be formed and then used in the engine assembly process for just-in-time delivery to the company’s vehicle production line. The HCM operation will have the capacity to produce 200,000 engines annually.

The facility is the first Honda supplier in North America to deliver molten aluminum directly to die cast machines. In the process, there will be significant energy savings eliminating the need for one re-melt step of the product which will reduce carbon dioxide emissions by as much as 1,600 tonnes annually.

The MAPCAN facility will reduce its environmental footprint through a combination of energy efficient initiatives to achieve energy savings of 30 to 50%, including:

§ Housing four large, energy efficient and regenerative furnaces to recycle the heat from the process;

§ Insulating the entire facility to retain process heat within the building during the winter;

§ Using recycled aluminum that requires only 5% of the energy necessary to make “new” aluminum while not impacting the quality of properties of foundry alloys; and,

§ Ensuring that all processes, inputs and waste are contained within the facility, controlling any potential dust and noise while enabling a dust collection and filtration system to filter and purify air before it is released.

Additionally, MAPCAN is employing a wide range of recycling options to achieve an aggressive target of 0% waste to landfill.

MAPCAN’s new 9,000 square metre (97,000 square foot) facility has the capacity to produce 50,000 metric tonnes of aluminum annually. It will employ 45 Associates and operate on a three shift rotation.