Luxfer Enters into Agreement to Acquire ESM Group’s Specialty Metals Business
15 November 2017
Luxfer Holdings PLC, 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.