Featured information about Masan Group and Market

September 17, 2019

Masan acquired HCS' tungsten business

Masan Tungsten Limited Liability Company (MTC), a wholly owned subsidiary of Masan Resources Corporation (MSR), signed an agreement to purchase the tungsten business of H.C. Starck Group (HCS).   

HCS is a leading manufacturer of high-tech tungsten metal powders and carbides (midstream tungsten products). HCS has production hubs in Europe, North America, and China serving customers across the globe.

A highly qualified and professional team of experts in R&D, application engineering, coupled with modern automated manufacturing processes ensure its customers benefit from the highest and consistent quality products.

HCS owns 105 patents and patent applications and other intellectual properties to manufacture innovative products such as ultrafine size tungsten compounds. In addition, HCS is one of the few companies in the world with a comprehensive, environmentally sound tungsten scrap recycling platform backed by proprietary intellectual property.

masan acquired hcs tungsten business
This transaction will create a global high-tech industrial company in Vietnam of scale, but more importantly, enhance Vietnam’s competitive edge in global tungsten market

This transaction is a strategic step in executing MSR’s vision to become a leading vertically integrated high-tech industrial materials platform in the world. MSR’s low cost, stable primary supply of APT, combined with HCS’ scrap recycling platform, will provide MSR a global competitive edge. This will enable MSR to generate strong and consistent cash flows across price cycles and expand MSR’s addressable market by 3.5 times from $1.3 billion to $4.6 billion.

MSR will become a leading midstream tungsten products supplier across critical industries such as mechanical engineering and tool making, mining, automotive and energy, aviation and the chemical industry. The move into midstream tungsten products is also value enhancing as these products command on average a 30-50 per cent premium to APT products.

This transaction will create a global high-tech industrial company in Vietnam of scale, but more importantly, enhance Vietnam’s competitive edge in global tungsten market by owning a cutting-edge R&D and technology platform and provide Vietnamese workforce an opportunity to develop engineering skills in the high-tech manufacturing space, as part of the globalization of MSR’s business.

Closing of the transaction is inter alia subject to certain regulatory approvals (including governmental approvals in Vietnam). Both parties agreed not to disclose financial terms of the transaction at this stage.

Masan Resources, a leading supplier of critical minerals including tungsten, fluorspar and bismuth, is currently operating the world class polymetallic mineral resource and chemical processing plant in Northern Vietnam. Masan Resource’s vision is to show the world that a Vietnamese company can lead the transformation of the global tungsten market.

H.C. Starck Group is an international leading supplier of refractory technology metals, supplying growth industrial sectors such as the electronics sector, the chemical industry, the automotive sector, medical technology, aviation and aerospace, energy and environmental technology, and machine and tool building from its own production locations in Europe, America and Asia.

Related News


Bain Capital leads MSN’s equity funding round of up to US$500 million

October 05, 2023


Masan Group was honored with "Best Companies to Work for in Asia"

August 07, 2023


Masan Group honored among Vietnam's top 50 sustainable enterprises in 2023

June 30, 2023


Masan eyes $4.27b revenues through 3 growth engines

April 26, 2023


Masan successfully draws down first tranche of its $650 million syndicated loan

March 30, 2023


Masan Group secures $650M loan from foreign lenders

March 11, 2023