Glencore to acquire Vale's European manganese ferroalloys operations
Glencore International plc today announces that it has, through subsidiaries, entered into a share purchase agreement to acquire Vale's European manganese ferroalloys operations for a cash consideration of USD$160 million. The completion of the transaction is subject to the fulfillment of certain conditions precedent.
Located in Dunkirk, France and Mo I Rana, Norway, the operations currently have the capacity to produce 150'000 tonnes and 110'000 tonnes of manganese ferroalloys per annum, respectively. This is the first time that Glencore has expanded into manganese production, strengthening our marketing offer as well as complementing the department's existing production of other ferroalloys.
The acquisition of these operations will add further value to Glencore as the company continues to grow its ferroalloys business. Both operations are strategically well placed in the European ferroalloys market, providing Glencore with an even stronger platform to meet the needs of its customers on the Continent, as well as in other countries.
Glencore is one of the world's leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products.
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