Masan High-Tech Materials Corporation established a strategic alliance in the tungsten industry with Mitsubishi Materials Corporation with the objective of developing a leading, high-tech tungsten materials platform.

Masan High-Tech Materials Corporation (MHC) will establish a strategic alliance in the tungsten industry with Mitsubishi Materials Corporation (MMC) with an objective to develop a leading, high-tech tungsten materials platform. As part of the strategic alliance, MMC will subscribe for 110 million newly-issued ordinary shares via a private placement for a total cash consideration of $90 million. Once the transaction is completed, MMC will own 10 per cent of the fully diluted share capital and become the second-largest shareholder of MHC.

So far, a total of 310 households from the Nui Phao project area have benefited from loans from the Economic Recovery Fund with a total recycled capital value of more than VND14 billion (608,700) in support of economic development.