HC Starck Tungsten to be sold to Mitsubishi Materials Corporation
May 22, 2024
Masan High-Tech (MHT) Materials Group, headquartered in Ho Chi Minh City, Vietnam, parent company of H C Starck Tungsten, has signed a framework agreement with Mitsubishi Materials Corporation Group (MMC), Tokyo, Japan, for the sale of all shares in HC Starck Holding GmbH.
MMC, which operates its own site for the recovery and processing of tungsten as well as the manufacturing of tungsten-based tools, is a long-standing customer of the Goslar-based company. It acquired a 10% stake in MHT in 2020, shortly after the latter took over HCS from the former HC Stark Group.
As a result of the Acquisition, MMC Group will have tungsten operations in four major markets: Japan, Europe, North America and China.
MMC stated that Japan New Metals Co., Ltd. (a wholly owned subsidiary of MMC) and HC Starck will work together to create synergies and increase corporate value by strengthening R&D capabilities and promoting cross-selling, as well as developing a global tungsten recycling business.
Dr Hady Seyeda, CEO of HCS, stated, “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.”
Download PM Review magazine
