ERAMET group: Agreement to sell ERACHEM (Manganese
Post# of 301275
Paris, 12 December 2016
PRESS RELEASE
ERAMET group: Agreement to sell ERACHEM (Manganese Chemicals) to PMHC II, Inc.
As part of its asset disposals program, ERAMET announces the signature of an agreement for the sale of ERACHEM to the American company PMHC II, the parent company of Prince International Corporation. The scope of the transaction includes several subsidiaries of COMILOG, a Gabonese entity, which is 63.71% controlled by ERAMET. ERACHEM operates plants located in the United States, Belgium, China and Mexico dedicated to manganese chemical applications including batteries, agrochemicals and other uses (electronics, pigments.). ERACHEM's sales reached USD187 million in 2015.
The consideration for the transaction is approximately USD190 million. Closing of the transaction is subject to certain regulatory approvals and, provided that these approvals are obtained, is expected to occur prior to the end of the year.
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ABOUT ERAMET
ERAMET is one of the leading global producers of:
- alloying metals, particularly manganese and nickel, used to improve the properties of steel,
- high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
ERAMET is also developing high growth potential activities, such as mineral sands (titanium dioxide and zirconium), lithium and recycling.
The Group employs approximately 14,000 people in 20 countries.
ABOUT PMHC II, Inc. PMHC II's wholly owned subsidiary Prince International Corporation combines international sourcing and processing capabilities with in-depth customer knowledge, world-class engineering, and value-added distribution to deliver essential engineered solutions to diverse consumer and industrial markets. Formed through a series of acquisitions since 2003, Prince is a portfolio company of private equity funds affiliated with Palladium Equity Partners, LLC. Prince's products enjoy widespread use in brick, glass, foundries, steel, oil & gas, specialty coatings, agriculture, water treatment, and numerous other industrial applications. Prince operates 20 processing facilities located across North America, South America, Europe, and Africa. More information about Prince can be found at www.princecorp.com .
CONTACT
Vice President Strategy and Financial Communication
Philippe Gundermann - Tel: +33 (0)1 45 38 42 78
Strategic and Financial Communication Analysts
Ludovic Donati - Tel: +33 (0)1 45 38 42 88
Arthur Perroton - Tel: +33 (0)1 45 38 37 32
For more information : www.eramet.com
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