Elmet agrees to invest about $125 million in Masan’s tungsten business

The Elmet Group ($ELMT) agreed to invest approximately $124.75 million for a 4.99% stake in Masan High-Tech Materials. The arrangement includes board representation and is paired with long-term tungsten supply and conversion-service agreements. It would give Elmet access to material from the Nui Phao operation and processing capabilities in Vietnam, supporting its wider supply-chain plans.

Closing is expected in the third quarter, subject to approvals and other requirements, with the related supply arrangements taking effect on completion. The investment is separate from Elmet’s previously announced government financing. It is an equity purchase and sourcing relationship, not $125 million of customer revenue. The disclosed minority interest also does not give Elmet ownership or control of Masan’s entire operating business.

Sources:

• Elmet — Masan investment and supply agreements