Monday, July 13 2020

VietNamNews

Masan Resources completes acquisition of German firm’s tungsten business

Update: June, 12/2020 - 08:14

 

A facility of Masan Resources Corporation (MSR). MSR expects to become a leading midstream tungsten products supplier across critical industries such as mechanical engineering and tool making, mining, automotive, energy, aviation, and chemicals. — Photo courtesy of Masan Resources

HÀ NỘI — Masan Tungsten Company Ltd, a wholly-owned subsidiary of the Masan Resources Corporation (MSR), has completed the legal steps to acquire the tungsten business of Germany’s H.C. Starck Group GmbH, according to the corporation.

The transaction is a strategic step in executing MSR’s vision of becoming a leading global vertically-integrated high-tech industrial materials platform.

This will enable the company to generate strong and consistent cash flows across price cycles and expand its addressable market by 3.5 times, from US$1.3 billion to US$4.6 billion.

MSR expects to become a leading midstream tungsten products supplier across critical industries such as mechanical engineering and tool making, mining, automotive, energy, aviation, and chemicals.

The transaction aims to create a global high-tech industrial company of scale in Việt Nam and, more importantly, enhance the country’s competitive edge in the global tungsten market by owning a cutting-edge R&D and technology platform.

It will also offer the local workforce an opportunity to develop engineering skills in the high-tech manufacturing space as part of the globalisation of MSR’s business.

Starck is a leading manufacturer of high-tech tungsten metal powders and carbides, with production facilities in Europe, North America, China and customers across the globe.

It owns 105 patents and patent applications and other intellectual property to manufacture innovative products such as ultrafine-sized tungsten compounds.

In addition, it is one of only a handful of companies in the world with a comprehensive, environmentally-sound tungsten scrap recycling platform backed by proprietary intellectual property. — VNS

Send Us Your Comments:

See also: