ERAMET group: Signature of an agreement in order to sell Eurotungstene to Umicore
Paris, 9 December 2016
PRESS RELEASE
Eramet group: Signature of an agreement in order to sell Eurotungstene to Umicore
As part of its asset disposals program, Eramet announces the signature of an agreement in order to sell Eurotungstene to Umicore. Eurotungstene operates a plant located in Grenoble (France) dedicated to developing, producing and marketing metal powders and pre-alloys. In 2015 Eurotungstene generated revenues of almost ?42 million and employed 127 people.
Closing of the transaction is subject to certain regulatory approvals and provided that these approvals are obtained, is expected to occur in first-half 2017.
- ooOoo -
ABOUT ERAMET
Eramet is one of the leading global producers of:
- alloying metals, particularly manganese and nickel, used to improve the properties of steel,
- high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
Eramet is also developing high growth potential activities, such as mineral sands (titanium dioxide and zirconium), lithium and recycling.
The Group employs approximately 14,000 people in 20 countries.
ABOUT Umicore Cobalt & Specialty Materials
Umicore Cobalt & Specialty Materials produces a variety of cobalt and nickel-based chemicals for a wide range of applications. One of its main product groups is cobalt and pre-alloyed powders for the production of diamond tools and hard metal applications used for stone cutting and construction, metal cutting tools and wear parts.
ABOUT Eurotungstene
Eurotungstene is based in Grenoble, France. The business is specialised in processing cobalt, tungsten, tungsten carbide, tungsten copper and rhenium into powder and granule forms for use in diamond tools, cemented carbides, refractory materials and metal injection moulding. It has a comprehensive global network of agents and distributors.
In 2015 Eurotungstene generated revenues of almost ?42 million and employed 127 people.
CONTACT
Vice President Strategy and Financial Communication
Philippe Gundermann - Tel: +33 (0)1 45 38 42 78
Strategic and Financial Communication Analysts
Ludovic Donati - Tel: +33 (0)1 45 38 42 88
Arthur Perroton - Tel: +33 (0)1 45 38 37 32
For more information: www.Eramet.com
Follow us on Eramet Finance App:
IOS: https://itunes.apple.com/app/Eramet-finance/id1115212055?mt=8
Android: https://play.google.com/store/apps/details?id=com.Eramet.finance
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Eramet via Globenewswire
