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[April 2008]
Plansee Group Acquires US Powder Expert GTP
Plansee Group is acquiring GTP. With this acquisition, said Plansee, it will increase its competitiveness and raw materials supply base for tungsten products and expand its refractory metals activities in North America. GTP employs 1,050 people and will become a new division of the Plansee Group.
GTP used to be part of the lighting manufacturer Osram for many years. Its expertise in processing tungsten ore concentrate and recycling of hard materials scrap has enabled it to become the leading supplier of tungsten powders in North America. Its product range additionally includes molybdenum powders and semi-finished products, as well as other powders that are relevant to the Plansee Group’s markets. GTP’s main customers are from the aerospace, automotive, coating, electronics, energy and lighting industries.
GTP has production sites in Towanda, PA, USA and Bruntál, Czech Republic. In the last fiscal year, it recorded sales of approximately €280 million.
“This acquisition is an important strategic step, and will ensure our longterm supply of tungsten raw materials. It will also allow us to further strengthen our position in the refractory metals market in North America,” said Michael Schwarzkopf, Chairman of the Plansee Group executive board. To meet the group’s increasing requirements for tungsten powders, it plans to expand the Towanda site.
GTP will become the Plansee Group’s fourth division. “GTP has performed well in the last couple of years,” added Schwarzkopf. “We believe in the management team, and have no plans to make any significant changes to the product or customer portfolio.”
Once the acquisition is complete, the Plansee Group will meet its regional sales target – 50% in Europe and 25% each in America and Asia. The group will then employ more than 10,000 people world-wide, amongst which 2,000 each in the USA and Austria.
With its three divisions – PLANSEE High Performance Materials, CERATIZIT and PMG – the Plansee Group is one of the world’s leading suppliers of powder metallurgical products and components.
The group achieved world-wide sales of over €1.4 billion in the 2006/07 fiscal year (ignoring differing shares of ownership) and employed a total of 8,800 people.
www.plansee.com
ENDS