Apr 1 2012
Cookson Group plc ("Cookson"), a leading materials science company, announces that on 29 March 2012 it completed the acquisition of Metallurgica Beteiligungsesellschaft mbH, Metallurgica Gesellschaft fur Huttenwerkstechnik mbH & Co. KG, and Metallurgica North America, LP ("Metallurgica").
Metallugica, headquartered in Germany, is one of the world's leading suppliers of fluxes, and will be integrated into the Engineered Ceramics division. Fluxes are a range of powders used alongside refractory products in the enclosed continuous casting technology for steel production.
As well as absorbing impurities in the molten steel, these powders also help lubricate the mould and prevent oxidation of the molten steel during the production process. In 2011, Metallurgica had revenue of approximately €48m (£40m*) and trading profit of approximately €4.6m (£3.8m*). Gross assets as at 31 December 2011 were approximately €24m (£20m*).
Commenting on the acquisition, François Wanecq, Chief Executive of Cookson's Engineered Ceramics division, said:
"Metallurgica's expertise in fluxes represents an important further addition to our extensive range of Steel Flow Control products and services. This and the recent purchase of SERT, a provider of automation systems for molten metals processes, reflect our strategy of making bolt-on acquisitions to further strengthen our positioning in our core markets."