Last checked at 30 Mar 2012 09:30
30 March 2012
ACQUISITION OF METALLURGICA
Cookson Group plc ("Cookson"), a leading materials science company, announces that on 29 March 2012 it completed the acquisition of Metallurgica Beteiligungsesellschaft mbH, Metallurgica Gesellschaft fur Huttenwerkstechnik mbH & Co. KG, and Metallurgica North America, LP ("Metallurgica").
Metallugica, headquartered in Germany, is one of the world's leading suppliers of fluxes, and will be integrated into the Engineered Ceramics division. Fluxes are a range of powders used alongside refractory products in the enclosed continuous casting technology for steel production. As well as absorbing impurities in the molten steel, these powders also help lubricate the mould and prevent oxidation of the molten steel during the production process. In 2011, Metallurgica had revenue of approximately €48m (£40m*) and trading profit of approximately €4.6m (£3.8m*). Gross assets as at 31 December 2011 were approximately €24m (£20m*).
Commenting on the acquisition, François Wanecq, Chief Executive of Cookson's Engineered Ceramics division, said:
"Metallurgica's expertise in fluxes represents an important further addition to our extensive range of Steel Flow Control products and services. This and the recent purchase of SERT, a provider of automation systems for molten metals processes, reflect our strategy of making bolt-on acquisitions to further strengthen our positioning in our core markets."
Notes:
* translated at an exchange rate of €1.2/£1
Shareholder/analyst enquiries: | |
Nick Salmon, Chief Executive | Cookson Group plc |
Mike Butterworth, Group Finance Director | Tel: + 44 (0)20 7822 0000 |
Media enquiries: | |
John Olsen | MHP Communications |
Anthony Arthur | Tel: +44 (0)20 3128 8100 |
About Cookson Group plc:
Cookson Group plc is a leading materials science company operating on a worldwide basis in ceramics, electronics and precious metals markets.
The Engineered Ceramics division is the world leader in the supply of advanced consumable refractory products and systems to the global steel and foundry industries and a leading supplier of speciality products to the glass and solar industries.
The Performance Materials division is a world leading supplier of electronic assembly materials and advanced surface treatment and plating chemicals to the electronics, automotive, industrial and construction markets.
The Precious Metals division is a leading supplier of fabricated precious metals (primarily gold, silver and platinum) to the jewellery industry in the UK, France and Spain, and also has significant precious metal recycling operations.