Plansee Group acquires minority ownership of the Chilean company Molibdenos y Metales S.A.

The Plansee Group, one of the worldwide leading companies for powder metallurgical products made from high performance materials such as molybdenum and tungsten, has taken over 7 percent of the shares in form of a block deal of the Chilean company Molibdenos y Metales S.A. (Molymet) on 25 March 2011. Molymet is the worldwide leading processor of molybdenum ore concentrates.

The Plansee Group, one of the worldwide leading companies for powder metallurgical products made from high performance materials such as molybdenum and tungsten, has taken over 7 percent of the shares in form of a block deal of the Chilean company Molibdenos y Metales S.A. (Molymet) on 25 March 2011. Molymet is the worldwide leading processor of molybdenum ore concentrates.

"This investment is a first step to secure our molyb-denum powder supply" said Dr. Michael Schwarzkopf, chairman of the Plansee Group’s executive board. "With the acquisition of GTP in 2008 and the investment in Molymet we put things on the right track to strategically safeguard the supply of our most important raw materials molybdenum and tungsten."Molymet has been a key supplier of Plansee Group for many years. It is planned to further increase Plansee’s share in Molymet in the short-term.

Molymet was founded in 1975, and is listed at the stock exchange in Santiago de Chile since 1983. Molymet employs 1400 people worldwide at six production sites. The company is focused on production and marketing of molybdenum and rhenium products.

The Plansee Group

With its four divisions – Plansee High Performance Materials, Global Tungsten & Powders, Ceratizit and PMG – the Plansee Group is one of the world’s leading manufacturers of powder metallurgical products and components. In the 2009/10 fiscal year, the Plansee Group employed 6,000 people worldwide and realized consolidated sales of 852 million euros. The fiscal year ends on the last day of February.