Masan High-Tech Materials Corporation’s modern processing line in Việt Nam. — Photo courtesy of Masan HCM CITY — Masan High-Tech Materials Corporation (MHT), a subsidiary of Masan Group, on November 27 announced it has wrapped up a strategic alliance in the tungsten industry with Japan’s Mitsubishi Materials Corporation (MMC) with an objective to develop a leading, high-tech tungsten materials platform. As part of the strategic alliance, MMC bought 109,915,542 newly issued shares via a private placement for a cash consideration of US$90 million. MMC now owns 10 per cent of the fully diluted share capital of MHT and is the second largest shareholder. The parties will discuss developing a separate business unit to strengthen and unlock synergies for their respective mid-stream tungsten platforms. The ability to offer cutting edge solutions to customers and the strategic flexibility of being integrated across the value chain is a critical factor in delivering sustainable growth and will continue to be a critical factor in the tungsten space. MHT prides itself on constantly delivering improved and innovative product offerings. MHT is one of the only tungsten platforms that benefits from regular supply of primary (concentrates) and secondary raw (recycled) materials that are then further… Read full this story
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