Vesuvius plc Acquisition of Brazilian Mold Flux business (6514S)
23 December 2016 - 2:45AM
UK Regulatory
TIDMVSVS
RNS Number : 6514S
Vesuvius plc
22 December 2016
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 GBP9.2 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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