Elkem has acquired the iron foundry business of the Indian Company Minex Metallurgical Co Ltd, a leading provider of speciality alloys.
Based in Norway, Elkem AS is one of the world’s leading companies for environmentally responsible production of materials. Its principal products are silicon, silicones, ferrosilicon, foundry alloys, carbon materials and microsilica.
Elkem AS is a global leader in metal treatment solutions to the cast iron industry and a supplier of high quality special ferrosilicon to the steel industry. This acquisition will strengthen the company’s strategic position building upon the existing competence, manufacturing high quality and consistent products, strong technical customer service, technology and R&D.
“We have been present in India for the last three decades and getting a manufacturing footprint allows us to leverage our strengths of quality products and technical service with local production. This acquisition is a commitment from Elkem to India’s iron foundries and we will continue to offer technical services to help our customers improve their products and processes, enabling them to be more competitive,” said Roland Hennigfeld, global sales and marketing director at Elkem.
Elkem AS will acquire direct control of Minex Metallurgical Co Ltd’s iron foundry alloy business including the Hingna plant, its sales and marketing organisation, its distribution network across India as well as the R&D Facility at Hingna. This acquisition does not include the Minex cored wire business.
Minex is India’s foremost provider of total alloying solutions to the iron and steel, aluminium, foundry, and other non-ferrous industries, with state-of-the-art technology in speciality alloys, cored wire, aluminium master alloys and wire injection systems. Minex is headquartered in Mumbai and has three manufacturing plants near Nagpur in central India and one each in Mumbai and Pune, with an export network to over 16 countries.
Commenting on the announcement, Mr S B Misra, who built the Indian company from scratch to what it is today, said: “Minex is happy that a progressive and forward-looking company which will ensure continuous growth is taking over the business.”
Contact: Iyer Srinivasan, MD Elkem South Asia, email: Iyer.firstname.lastname@example.org web: www.elkem.com