Resources firm buys tungsten facility from Germany-based business hinh anh 1Masan Resources Corporation's modern production line (Photo: VNA)

Hanoi (VNA) – 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.

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

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

MRC’s stable supply of Ammonium Paratungstate (APT) at low costs, coupled with H.C. Starck’s scrap recycling platform, will help the corporation gain competitive edge over its global rivals. Besides, the move will enable it to expand its 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 midstream tungsten products for important industries like mechanical engineering, tool making, mining, automobile, energy, aviation and chemicals. This will increase the firm’s value as prices of high-tech tungsten products range 30-50 percent higher than current APT products./.