H.C. Starck Tungsten Powders, Goslar, Germany, a leading global provider of customer-specific tungsten powder, and part of H.C. Starck Group GmbH, has been acquired by Vietnamese-based Masan Resources. A subsidiary of Masan Group, Masan Resources is a supplier of critical minerals including tungsten, fluorspar and bismuth.
According to the H.C. Starck Group, all required approvals by government authorities have been received, allowing completion of the transaction.
H.C. Starck Tungsten Powders develops and produces high-performance powders made from the refractory metal tungsten and its compounds. It has a patented recycling process with which it extracts tungsten in what it states as the highest quality from secondary raw materials. The business has approximately 540 employees across three production sites in Germany, Canada and China, as well as sales offices in the USA and Japan.
Masan Resources is reported to have one of the world’s largest tungsten deposits and associated refining facilities outside of China.
“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,” stated 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.”
Craig Bradshaw, CEO of Masan Resources commented, “The competencies of both companies in the field of raw materials on the one hand and the highly specialised processing on the other complement each other perfectly. 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.”