Masan High-Tech Materials exits from H.C. Starck

December 18, 2024 | 18:53

(0) user say

Masan High-Tech Materials announced the finalisation of the sale of H.C. Starck Holding GmbH in its entirety to Mitsubishi Materials Corporation (MMC) Group on December 18.

Masan High-Tech Materials exits from H.C. Starck

As part of the transaction, Masan High-Tech Materials (MHT) and H.C. Starck entered into a long-term ammonium paratungstate and tungsten oxide offtake agreement, providing a strong anchor for MHT’s order book.

Masan also retains potential monetary upside from Nyobolt, a British fast-charging tungsten and niobium-based battery technology company nearing scaled commercialisation, as well as future commercialisation of black mass recycling technology developed by H.C. Starck

Upon closing of the transaction, Masan Group will report a one-time after-tax profit gain, whilst transaction proceeds will be used to reduce MHT’s debt balance to approximately $490 million from approximately $670 million pre-transaction.

At the same time, Masan Group is expected to report net debt to earnings before interest, taxes, depreciation, and amortisation of approximately 3.17x at the end of the year, consistent with the group’s target of maintaining the ratio below 3.5x.

Danny Le, CEO of Masan Group and chairman of MHT, said, "The sale of H.C. Starck is the first step in realigning our business platform to focus where we can create outsized shareholder value. At the same time, the transaction creates a healthier MHT balance sheet to ensure we remain the lowest cost producer of tungsten to take advantage of the macro and micro tailwinds – increasing demand for tungsten applications driven by the improving underlying global economy."

Masan High-Tech Materials and Mitsubishi Materials Corporation Group reach framework agreement

Masan High-Tech Materials (HNX-UpCOM: MSR) has announced that it has reached a framework agreement with Mitsubishi Materials Corporation Group.

Mitsubishi Materials Corporation spends $134.5 million acquiring H.C. Starck

Mitsubishi Materials Corporation will acquire 100 per cent of H.C. Starck Holding (Germany) GmbH from Masan High-Tech Materials Group for an equity purchase price of $134.5 million.

Masan High-Tech Materials to tap into global mineral recovery

Masan High-Tech Materials, a member company of Masan Group, is poised to seize new opportunities against the backdrop of positive signals in the global market.

By Thanh Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional