Mentioned:
The Elmet Group is buying an equity stake in one of their longstanding suppliers. But, why?
What’s happening:
- The Elmet Group (NASDAQ: ELMT) has entered into a new deal to acquire a 4.99% equity stake in Vietnam based Masan High-Tech Materials
By the numbers:
- The Elmet Group will invest roughly $124.7M USD In cash for the equity stake in Masan High-Tech Materials
Why it matters:
- Masan High-Tech Materials is one of the world’s highest volume producers of refined tungsten products outside of China
Going deeper:
- Masan High-Tech Materials operates the Nui Phao tungsten mine and a refinery located in Thai Nguyen Province, Vietnam and is currently scaling up their tungsten oxide capacity to more than 8,000 tonnes of tungsten trioxide annually
- Masan High-Tech Materials has been a supplier to The Elmet Group for more than a decade
- The Elmet Group will acquire the equity stake in Masan High-Tech Materials directly from their parent company Masan Group
The intrigue:
- The Elmet Group just recently made major waves on Wall Street when they landed a strategic investment from the United States Department of War for $450M USD
