The management is very pleased to announce that the shareholders of Metalor Technologies International (“Metalor”) have signed an agreement to sell 100% of the equity of Metalor to Tanaka Kikinzoku Kogyo (“Tanaka”) of Japan. Tanaka is a Japanese family owned company, established in 1885, that employs 3,500 people and is a world leader in precious metals refining and fabrication.
The transaction is subject to approval by the competition authorities of several countries in Asia which is expected to take a number of months to complete. Upon completion of the transaction, Metalor will continue to operate under the Metalor name.
Both companies benefit from long histories and strong reputations, a key element in the precious metals industry, have continuously modernized their production assets and are among the very few companies in the precious metal refining world to be Referees at both the London Bullion Market Association and the London Platinum and Palladium Market.
The cornerstone of the transaction is the complementary nature of the two companies. Tanaka is mainly active in Asia while Metalor also has a strong presence in Europe and the Americas. In addition, many of the markets served by Tanaka are not currently being served by Metalor. For example, Tanaka is a global leader in low grade refining, bonding wire for electronics, platinum equipment for glass smelting and electrical contacts for the automotive industry.
This transaction will allow Metalor to enlarge product and service offerings to its customers on a global basis.
The entire Metalor team supports this transaction and wishes to thank previous shareholders for their backing who allowed extensive investment in Europe, as well as in Asia and in the Americas, that have positioned Metalor well for future success.
