Business

Masan, Mitsubishi Materials to develop tungsten platform

The Masan High-Tech Materials Corporation (MHT) announced on November 27 that it has completed a strategic alliance in the tungsten industry with the Mitsubishi Materials Corporation (MMC), with a view to developing a leading high-tech tungsten materials platform.
Masan, Mitsubishi Materials to develop tungsten platform ảnh 1The Masan High-Tech Materials Corporation (MHT) announced on November 27 that it has completed a strategic alliance in the tungsten industry with the Mitsubishi Materials Corporation (MMC), with a view to developing a leading high-tech tungsten materials platform. Photo: Masan


Hanoi (VNA) - The Masan High-Tech Materials Corporation (MHT)announced on November 27 that it has completed a strategic alliance in thetungsten industry with the Mitsubishi Materials Corporation (MMC), with a viewto developing a leading high-tech tungsten materials platform.

As part of the alliance, MMC bought more than 109.9 million newly-issued sharesin MHT through a private placement for 90 million USD, becoming its second-largestshareholder, with 10 percent.

Credit Suisseacted as exclusive financial advisor to MHT.

The two will discuss developing a separate business unit to strengthen andunlock the synergies between their respective mid-stream tungsten platforms.

After its acquisition of H.C Starck (HCS), a leading global mid-streamtungsten business, in June, MMC’s participation as a strategic partner isvalidation of its transformation into a vertically integrated high-techtungsten platform.

The cooperation willopen up investment opportunities to promote the development of importanttechnologies while improving capacity on both sides to provide customers withtungsten products of high quality. It will also strengthen sales networks inthe Asia-Pacific, helping broaden the consumption of MHT’s tungsten powder inthe region.

MHT prides itself on being a leading provider of key minerals such astungsten, fluorite, and bismuth. It is currently managing and operating theworld’s leading multi-needle ore production and processing plant, in Vietnam’s north.It is also the world’s leading supplier of heat-resistant metals for growthindustries such as electronics, chemicals, automotive, medical technology, and aviationand aerospace.

MMC, meanwhile, is an “integrated materials manufacturer”, providing basicmaterials such as copper and cement. It also manufactures and suppliesmechanical parts, materials, and electronic components used in motor cars andhome appliances, among others, and is also engaged in the recycling and energysectors./.

VNA
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