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Friday, June 14, 2024

Masan subsidiary acquires H.C. Starck’s tungsten business

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HCMC – Masan Tungsten Co., Ltd, a wholly-owned subsidiary of Masan Resources Corporation (MSR), announced that it has completed the purchase of Germany-based H.C. Starck Group GmbH’s tungsten business, which it described as a strategic move in executing MSR’s vision of becoming a leading high-tech industrial materials platform.

The deal will enable the company to generate consistent cash flows across price cycles, as well as expand its addressable market by 3.5 times from US$1.3 billion to US$4.6 billion.

MSR also aims to become a leading midstream tungsten product supplier for critical industries including mechanical engineering and tool making, mining, energy, aviation and chemicals.

The move is expected to enhance the country’s competitive edge in the global tungsten market, in addition to offering the local workforce an opportunity to develop their engineering skills in the hi-tech manufacturing industry.

As for H.C. Starck, it is a leading manufacturer of hi-tech tungsten metal powder and carbides, with production facilities located in Europe, North America and China. It owns 105 patents and other intellectual property to manufacture tungsten products such as ultrafine-sized tungsten compounds. Besides this, it is among the few companies in the world that have a comprehensive and environmentally-sound tungsten scrap recycling platform thanks to proprietary intellectual property.

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