Business

Resources firm buys tungsten facility from Germany-based business

Masan Resources Corporation (MRC) said its Masan Tungsten Limited Liability Company has recently signed a contract to acquire the tungsten business of Germany-based H.C. Starck Group GmbH.
Resources firm buys tungsten facility from Germany-based business ảnh 1Masan Resources Corporation's modern production line (Photo: VNA)

Hanoi (VNA) – Masan Resources Corporation (MRC) said its MasanTungsten Limited Liability Company has recently signed a contract to acquirethe tungsten business of Germany-based H.C. Starck Group GmbH.

With almost 100 years of experience, H.C. Starck is a leading premium supplierof the technology metals tungsten, molybdenum, tantalum and niobium, andhigh-performance ceramics, with production facilities in Europe, North Americaand China as well as customers across the world.

The tungsten business purchase is a strategic step of the MRC to become aworld-leading high-tech industrial material manufacturer based on integratedsupply chain platform.

MRC’s stable supply of Ammonium Paratungstate (APT) at low costs, coupled withH.C. Starck’s scrap recycling platform, will help the corporation gaincompetitive edge over its global rivals. Besides, the move will enable it to expandits market scale by 3.5 times, from 1.3 billion USD to 4.6 billion USD.

With the deal, the MRC expects to become a leading supplier of midstreamtungsten products for important industries like mechanical engineering, toolmaking, mining, automobile, energy, aviation and chemicals. This will increase thefirm’s value as prices of high-tech tungsten products range 30-50 percent higherthan current APT products./.
VNA
#Masan Resources Corporation (MRC) #Masan Tungsten Limited Liability Company #tungsten business #Germany-based H.C. Starck Group GmbH #high-tech industrial material manufacturer #competitive edge #midstream tungsten products #Vietnam News Agency #Vietnamplus
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