Höganäs completes its acquisition of H.C. Starck’s surface coating division
March 3, 2018
Sweden’s Höganäs AB has completed its previously reported take over of H.C. Starck’s Surface Technology & Ceramic Powders (STC) business. Reported to be Höganäs’ largest acquisition so far, it follows the company’s purchase of Metasphere Technology in November 2017 and Alvier PM-Technology in February 2018.
On the closing of this latest acquisition, Fredrik Emilson, President and CEO of Höganäs Group, stated, “STC is a strategically important acquisition for our growth agenda in more areas than traditional Powder Metallurgy. With STC, Höganäs gets access to new markets and product groups within the premium segment for surface coating and Additive Manufacturing. The acquisition means that we start the building of a second strong leg in Höganäs’ business, next to metal powder for pressed and sintered components.”
STC employs close to four-hundred people, mainly in Germany, where the company has two production units which Höganäs states will complement its powder production capacity. STC’s customer base is mainly European, which is also said to complement Höganäs’ stronger position in the Americas and Asia-Pacific region.
“Together, we become a large player in surface coating and Additive Manufacturing,” added Emilson. “With STC follows a deep knowledge of applications within, for instance, aerospace and oil and gas. These are areas where we see a large development potential and where we can offer our customers solutions for a more sustainable industry.”
The acquisition contract was signed before Christmas 2017 and approved by the relevant competition authorities at the end of February 2018. “Now we kick off the collaboration with our new colleagues. Together we will plan for our joint future as world leader within surface coating, Additive Manufacturing and PM,” concluded Emilson. “We all look forward to that.”