Masan High-Tech Materials intends to sell H.C. Starck Tungsten to Mitsubishi Materials

Goslar, GERMANY, Ho Chi Minh City, Vietnam, 14 May 2024 – Masan High-Tech Materials (“MHT”), the parent company of H.C. Starck Tungsten, today signed a framework agreement with Tokyo-based Mitsubishi Materials Corporation Group (“MMC”) for the sale of all shares in H.C. Starck Holding (Germany) GmbH (“HCS”).

MMC, which operates its own site for the recovery and processing of tungsten in Japan and also manufactures tungsten-based tools, is a long-standing customer of the Goslar-based company. It acquired a ten per cent stake in MHT in 2020, shortly after the latter took over HCS from the former H.C. Starck Group.

Dr Hady Seyeda, CEO of HCS, says: “We know Mitsubishi Materials very well as a customer and investor. Their extensive activities in Japan and our own global presence complement each other perfectly. Details will be clarified after the signing.”