Last checked at 22 Dec 2016 15:45
Vesuvius plc
Acquisition of Brazilian Mold Flux business
Vesuvius plc announces the completion of an acquisition of the Brazilian leader in mold and tundish fluxes for a total consideration of £9.2 million. The acquisition represents a further strategic step in broadening the Steel Flow Control offering in an important product line for the Group. Fluxes are used in the continuous casting of steel and this acquisition is a complimentary add on to the previous acquisition of Metallurgica. The transaction completed earlier this month and will be funded from existing financial resources.
Francois Wanecq, CEO of Vesuvius plc commented:
"This is a valuable addition to our portfolio and customer offering. I am pleased to welcome the flux business management team to Vesuvius and look forward to their contribution to the regional and global growth of Vesuvius."
About Vesuvius plc
Vesuvius is a global leader in molten metal flow engineering principally serving the steel and foundry industries.
We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce energy consumption. These include flow control solutions, advanced refractories and other consumable products and - increasingly - related technical services including data capture.
We have a worldwide presence. We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.
Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.
Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766
www.vesuvius.com