ERAMET group : ERASTEEL shareholdings evolution in
Post# of 301275
Paris, 04 October 2017, 8:30am
PRESS RELEASE ERASTEEL shareholdings evolution in China.
In accordance with what was communicated to the market on 12 May 2017, ERASTEEL, a 100% subsidiary of ERAMET, finalised its partnerships evolution in China in the domain of high-speed steels.
ERASTEEL has become a 100% shareholder of HeYe-ERASTEEL Innovative Materials Co. (HEIML), a Chinese company based in Tianjin specialised in bars drawing and wire drawing of high-speed steel, by acquiring the 51% stake of shares owned by HeYe Special Steel Co. a subsidiary of AT&M (Advanced Technology & Materials Co., Ltd). This transaction amounted to 59.5 million yuan, i.e. approximately €8 million.
ERASTEEL sold its 10.29% stake in the Chinese company, HeYe Special Steel Co. to the company itself. The transaction amounted to 109.5 million yuan, i.e. approximately €14 million.
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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,
- as well as high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
ERAMET is also developing activities with high growth potential, such as mineral sands (titanium dioxide and zirconium), lithium and recycling. The Group employs nearly 13,000 people in around 20 countries.
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Philippe Gundermann - Tel: +33 (0)1 45 38 42 78
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