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|The modern plant line of Masan High-Tech Materials in Vietnam|
After completing the strategic investment, the parties shall discuss developing a separate business unit to strengthen and unlock synergies for each respective parties’ mid-stream tungsten platform.
The ability to offer cutting-edge solutions to customers and the strategic flexibility of being integrated across the value chain is a critical factor to delivering sustainable growth and will continue to be a critical factor in the tungsten space. MHT prides itself on delivering continuous improved and innovative product offerings.
MHT is one of the only tungsten platforms that benefits from the consistent supply of primary (concentrates) and secondary raw (recycled) materials that are then further processed into the finest quality oxides, powders, carbides, and chemicals. The success of MHT is underpinned by a combination world-class research and development with dedicated applications engineers that have a track record of delivering fine-tune specifications to meet end customers evolving demands.
|Masan High-Tech Materials' high-tech tungsten powder products|
After the closing of the H.C Starck (HCS) acquisition, a leading global mid-stream tungsten business this June, MMC’s participation as a strategic partner is a validation of management’s transformation into a vertically integrated high-tech tungsten platform. MMC will add significant value as a strategic partner and through partnering, the parties will be positioned to develop better leading-edge solutions for end customers which will accelerate growth, including:
“I am extremely proud that we are starting to realise our strategic vision. Forging a strategic alliance with MMC will certainly accelerate our vision to become an end-to-end global high-tech industrial materials platform. Our customers will benefit the most as this partnership will strengthen our capabilities to supply, quality, and innovative products and solutions. The alliance also positions MHT and HCS to build a mid-stream tungsten Asian franchise, which is the missing piece of our strategic puzzle. I am extremely excited and looking forward to developing a long-term, win-win partnership with MMC,” said Craig Bradshaw, CEO of MHT.
Makoto Shibata, director and CFO of MMC, said, “We have set the tungsten business, including the cemented carbide tool business to be one of the major pillars of our growth strategy. I am excited about a new collaboration, which our investment in MHT will create and must have a significant impact in our future.”
Credit Suisse acted as exclusive financial advisor to MHT.
Closing of the strategic investment is subject to inter alia certain regulatory approvals (including governmental approvals in Vietnam) as well as MHT shareholders’ approval.