Eramet sells its Norwegian subsidiary Eramet Titanium & Iron (“ETI”) to Ineos Enterprises for a value of $245m
21 Septembre 2023 - 5:45PM
Eramet sells its Norwegian subsidiary Eramet Titanium & Iron
(“ETI”) to Ineos Enterprises for a value of $245m
Paris, 21 September 2023, 5:45 p.m.
PRESS RELEASE
Eramet sells
its Norwegian subsidiary Eramet Titanium & Iron
(“ETI”)
to INEOS
Enterprises for a value of
$245m
Following the receipt on 25 July 2023 of the
unilateral offer from INEOS Enterprises for the acquisition of 100%
of the shares in Eramet Titanium & Iron (“ETI”), Eramet
announces that it has completed the sale of its Norwegian
subsidiary today for a value of $245m. The transaction is final and
subject to no condition, regulatory approvals having been obtained
by INEOS Enterprises prior to the acceptance of its offer by
Eramet.
ETI is an ilmenite transformation plant in
Norway producing titanium slag used in the pigment industry. It
also produces high-purity pig iron sold to European foundries.
This sale, which takes immediate effect, enables
Eramet to strengthen its balance sheet and will contribute to the
financing of its projects in metals required for the energy
transition.
The agreement between Eramet and INEOS
Enterprises also includes a long-term supply contract for ilmenite
produced by Grande Côte Opérations (“GCO”), the Group’s subsidiary
which operates the mineral sands mine in Senegal.
Calendar
26.10.2023: Publication of 2023 Group third-quarter turnover
13.11.2023: Eramet's first Capital Markets Day
– "A New ERA"
ABOUT ERAMET
Eramet transforms the Earth’s mineral resources
to provide sustainable and responsible solutions to the growth of
the industry and to the challenges of the energy transition.
Its employees are committed to this through
their civic and contributory approach in all the countries where
the mining and metallurgical group is present.
Manganese, nickel, mineral sands, lithium, and
cobalt: Eramet recovers and develops metals that are essential to
the construction of a more sustainable world.
As a privileged partner of its industrial
clients, the Group contributes to making robust and resistant
infrastructures and constructions, more efficient means of
mobility, safer health tools and more efficient telecommunications
devices.
Fully committed to the era of metals, Eramet’s
ambition is to become a reference for the responsible
transformation of the Earth’s mineral resources for living well
together.
www.eramet.com
ABOUT INEOS ENTERPRISES
INEOS Enterprises is a global market leader in
the production of intermediary chemicals. It has a diverse
portfolio of chemical products that are used as an essential input
into chemical value chains across a broad variety of end markets
and sectors, such as paints, coatings, construction, automotive,
packaging and medical devices. It serves these sectors with an
extensive manufacturing presence in North America, Europe and
China, with 25 manufacturing plants across the UK, US, France,
Germany, Sweden, Switzerland, Canada, Spain, Finland, Poland and
China. INEOS Enterprises has sales of €2.7bn and employs 3,100
people. Visit INEOS Enterprises to learn more.
INVESTOR
CONTACTDirector of Investor
RelationsSandrine Nourry-DabiT. +33 1 45
38 37 02 sandrine.nourrydabi@eramet.com |
PRESS
CONTACT Media relations
managerFanny
Mounierfanny.mounier@eramet.com Image
7Marie ArtznerT. +33 1 53 70 74 31 | M.
+33 6 75 74 31 73martzner@image7.fr |
- ETI Eramet PR_210923 EN VF
Eramet (EU:ERA)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Eramet (EU:ERA)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024