H.C. Starck Tungsten business sold to a strategic investorSale to Masan Resources in Vietnam completed
H.C. Starck Tungsten Powders, a leading global provider of customer-specific tungsten powder, is now part of Masan Resources. All required approvals by government authorities have been received, allowing completion of the transaction between Masan Resources and the H.C. Starck Group GmbH. The Vietnamese-listed subsidiary of Masan Group has one of the world's largest tungsten deposits and associated refining facilities outside of China.
Strategic owner with a long-term perspective
"The entry of a strategic owner on time for the hundredth anniversary we are celebrating this year marks the beginning of a new era for our company," says Dr. Hady Seyeda, CEO of H.C. Starck Tungsten Powders. “We can now fully focus on global growth as a technology and quality leader in tungsten powder. Direct access to primary raw materials as a complement to our recycling expertise means even more flexibility and security for our customers all over the world.”
"The competencies of both companies in the field of raw materials on the one hand and the highly specialized processing on the other complement each other perfectly," comments Craig Bradshaw, CEO of Masan Resources. "For us, this transaction is the next strategic step in executing on our vision to become a leading global vertically integrated high-tech industrial materials platform.”
Highly specialized development and production
H.C. Starck Tungsten Powders develops and produces high-performance powders made from the refractory metal tungsten and its compounds, each of which fulfills individual customer requirements. A dedicated research and development department realizes new products as well as innovative processing technologies. This includes a patented recycling process with which H.C. Starck Tungsten Powders extracts tungsten in the highest quality from secondary raw materials.
H.C. Starck Tungsten Powders has around 540 employees across three production sites in Germany, Canada and China, as well as sales offices in the United States and Japan. The company headquarters are located in the largest production facility in Goslar.
ABOUT MASAN RESOURCES CORPORATION
Masan Resources, a leading supplier of critical minerals including tungsten, fluorspar and bismuth, is currently operating the world class polymetallic mineral resource and chemical processing plant in Northern Vietnam. Masan Resource’s vision is to show the world that a Vietnamese company can lead the transformation of the global tungsten market.
ABOUT H.C. STARCK TUNGSTEN
H.C. Starck Tungsten Powders is a leading global specialist for the development, manufacture and sale of high-performance powders based on the technology of metal tungsten and its compounds, tailored to individual customer needs. Thanks to patented recycling technology, the company mainly processes secondary raw materials. In addition, the owner Masan Resources ensures direct access to primary raw materials. More at www.hcstarck.com.
MSR Media contact:
T: +84 28 6256 3862
HCS Tungsten Media contact:
T: +49 171 56 57 953
This press release contains forward-looking statements regarding Masan Resources’ expectation, intentions or strategies that may involve risks and uncertainties. These forward-looking statements, including Masan Resources’ expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond Masan Resources’ control, which may cause Masan Resources’ actual results of operations, financial condition, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You should not rely upon forward-looking statements as predictions, future events or promises of future performance.