SALFORD, England--Luxfer Holdings PLC (NYSE:LXFR), a global materials technology company, announced today that it has entered into an agreement to acquire the Specialty Metals business of ESM Group Inc., including a manufacturing facility in Saxonburg, Pennsylvania USA.
ESM Group is a wholly owned subsidiary of SKW Stahl-Metallurgie Holding AG, a publicly traded German company listed on the Frankfurt Stock Exchange. ESM Group and its affiliate Affival Inc. provide desulfurization reagents, cored-wire products and engineering services to steel industries around the world.
ESM Group’s Saxonburg plant manufactures a range of magnesium-based chips, granules, ground powders and atomized powders. The acquired business will be integrated with Luxfer’s existing powder business that currently offers similar products under the Magnesium Elektron Powder name.
Luxfer CEO Alok Maskara said: “We welcome the Specialty Metals employees to the Luxfer Magtech team. We look forward to working together to strengthen our product portfolio and streamline our operations, while continuing to offer high-quality products and service to our customers.”
SKW CEO Dr. Kay Michel said: “The sale of our Specialty Metals business and our Saxonburg plant allows ESM Group to concentrate on our core business and to focus on our steel customers. Therefore, it´s an important step in line with the current restructuring process of the SKW Group.”
Luxfer and SKW anticipate closing within a few weeks, subject to any necessary approvals and consents to be secured by the parties.
Luxfer Holdings PLC is an industrial manufacturer of technologically advanced lightweight, high-strength, corrosion-resistant alloys, composites and specialty materials for a wide range of applications in aerospace, industrial, defense, safety and healthcare. For more information, visit www.luxfer.com.
About SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie Group
The SKW Metallurgie Group is a global market leader for chemical additives for hot metal desulphurization and for cored wire and other products for secondary metallurgy. The Group’s products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know-how and currently operates in more than 40 countries. The Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the U.S., Canada, Mexico, Brazil, South Korea, Russia, the Peoples' Republic of China and India (joint venture). Shares of SKW Stahl-Metallurgie Holding AG have been listed in the Frankfurt Stock Exchange Prime Standard since December 1, 2006, and since 2011 (conversion to name shares) with ISIN DE000SKWM021.
This press release may include predictions, estimates or other information that might be considered forward-looking. Such statement are based on information believed to be reliable at the date of release and remain subject to certain risks and uncertainties. No representation or guarantee is given as to the actual results that will occur and no warranty is provided that circumstances have not changed since the information was supplied. Luxfer undertakes no obligation to revise or publicly release results of any revision to these forward-looking statements in light of new information or future events. You should also review the full discussion of forward-looking statements and risk factors in the most recent Luxfer annual report on Form 20-F.