SKW Stahl-Metallurgie Holding AG: Luxfer enters into agreement to acquire ESM Group's Specialty Metals Business
Luxfer Enters into Agreement to Acquire ESM Group's Specialty Metals Business
München/Salford (England), November 14, 2017 - (BUSINESS WIRE) Luxfer Holdings PLC (NYSE:LXFR), a global materials technology company, announced today that it has entered into an agreement to acquire the Specialty Metals business of ESM Group Inc., including a manufacturing facility in Saxonburg, Pennsylvania, USA.
ESM Group is a wholly owned subsidiary of SKW Stahl-Metallurgie Holding AG, a publicly traded German company, listed on the Frankfurt Stock Exchange. ESM Group and its affiliate Affival Inc. provide desulfurization reagents, cored-wire products and engineering services to steel industries around the world.
ESM Group's Saxonburg plant manufactures a range of magnesium-based chips, granules, ground powders and atomized powders. The acquired business will be integrated with Luxfer's existing powder business that currently offers similar products under the Magnesium Elektron Powder name.
Luxfer CEO Alok Maskara said: "We welcome the Specialty Metals employees to the Luxfer Magtech team. We look forward to working together to strengthen our product portfolio and streamline our operations, while continuing to offer high-quality products and service to our customers."
SKW CEO Dr. Kay Michel said: "The sale of our Specialty Metals business and our Saxonburg plant allows ESM Group to concentrate on our core business and to focus on our steel customers. Therefore, it's an important step in line with the current restructuring process of the SKW Group."
Luxfer and SKW anticipate closing within a few weeks, subject to any necessary approvals and consents to be secured by the parties.
Contact partner Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Telephone: +49 89 99 24 96 30 Email: firstname.lastname@example.org Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie Group The SKW Metallurgie Group is a global market leader for chemical additives for hot metal desulphurization and for cored wire and other products for secondary metallurgy. The Group's products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US, Canada, Mexico, Brazil, South Korea, Russia, the Peoples' Republic of China and India (joint venture). Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange's Prime Standard since December 1, 2006; since 2011 (conversion to name shares) with ISIN DE000SKWM021.Disclaimer This press release may include certain forward-looking statements which are based on currently available assumptions and predictions of the SKW Metallurgie Group's management as well as on other currently available information. Various identified as well as unidentified risks and uncertainties as well as other factors may result in a deviation of actual results, financial situation, development or achievement of the company compared to the assessments made herein. SKW Stahl-Metallurgie Holding AG does not intend and assumes no liability to update such forward-looking statements and to adjust them to future events and developments.Contact: Frank Elsner Telefon: +49 170 481 51 81 E-Mail: email@example.com
14.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: SKW Stahl-Metallurgie Holding AG Prinzregentenstr. 68 81675 München
Germany Phone: +49 (0)89 5998923-0 Fax: +49 (0)89 5998923-29 E-mail: firstname.lastname@example.org Internet: www.skw-steel.com ISIN: DE000SKWM021 WKN: SKWM02 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service