On December 9, Elkem, a Bluestar company overseas, announced the deal to acquire the iron foundry alloy business of Minex, a world leading Indian special alloy supplier. The deal will allow Elkem to take over the latter’s Hingna plant, its R&D, sales and marketing departments as well as its distribution network all over India.
The founder of Minex Metallurgical Co., Ltd. S.B. Misra praised Elkem as an enterprising company with a strategic vision and sustainable growth potential and believed that the iron foundry alloy business would see further development under Elkem’s leadership.
According to Roland Hennigfeld, Elkem’s Global Sales and Marketing Director, in the past over 30 years, the company has been active in exploring the Indian market and this deal would help it fully capitalize on its advantages in products, technical services and local production and show its confidence in and commitment to the Indian foundry industry. Elkem would continue to provide high-quality products and technical services to clients as usual to help sharpen their market competitiveness.
This acquisition will consolidate Elkem’s existing manufacturing, R&D and service capabilities and elevate its strategic status in the foundry industry.
Background information:
About Elkem
Elkem is a world leading producer of silicon metals, silicones, microsilica, castings and carbon materials and boasts a complete value chain in the silicon industry. Headquartered in Norway, it has 3,600 employees, 22 production plants and two research centers worldwide as well as sales offices in more than 50 countries.
About Minex Metallurgical Co., Ltd.
Minex is a leading supplier of iron & steel, alloy, casting and other non-ferrous metal alloy solutions in India and owns the latest technologies for special alloy, core wires and aluminum alloy. Headquartered in Mumbai, it has a sales and service network all over India and exports to 16 countries.