Plansee Group acquires minority ownership of the Chilean company Molibdenos y Metales S.A.

March 29, 2011

The Plansee Group, one of the worldwide leading companies for powder metallurgical products made from high performance materials such as molybdenum and tungsten, has taken over 7% of the shares in form of a block deal of the Chilean company Molibdenos y Metales S.A. (Molymet). Molymet is the worldwide leading processor of molybdenum ore concentrates.

“This investment is a first step to secure our molybdenum powder supply” stated Dr Michael Schwarzkopf, Chairman of the Plansee Group’s executive board. “With the acquisition of GTP in 2008 and the investment in Molymet we put things on the right track to strategically safeguard the supply of our most important raw materials molybdenum and tungsten.”

Molymet has been a key supplier of Plansee Group for many years. It is planned to further increase Plansee’s share in Molymet in the short-term.

Molymet was founded in 1975, and is listed at the stock exchange in Santiago de Chile since 1983. Molymet employs 1400 people worldwide at six production sites. The company is focused on production and marketing of molybdenum and rhenium products.

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