“This acquisition will be transformative for our group of companies, not only in terms of enhancing Prince’s manganese product portfolio, but also significantly expanding our manufacturing footprint in North America and Europe,” said Willson Ropp, Prince CEO. “We will also be adding our first production capabilities in Asia. We are extremely pleased to welcome the Erachem employees to the Prince team, and we look forward to working together in the months and years to come.”
The transaction, which has already received antitrust clearance, is expected to close later this month. More information about Erachem can be found at www.erachem.com.
Prince combines international sourcing and processing capabilities with in-depth customer knowledge, world-class engineering, and value-added distribution to deliver essential engineered solutions to diverse consumer and industrial markets. Formed through a series of acquisitions since 2003, Prince is a portfolio company of private equity funds affiliated with Palladium Equity Partners, LLC. Prince’s products enjoy widespread use in brick, glass, foundries, steel, oil & gas, specialty coatings, agriculture, water treatment, and numerous other industrial applications. Prince operates 20 processing facilities located across North America, South America, Europe, and Africa. More information about Prince can be found at www.princecorp.com.
About ERAMET Group
ERAMET is one of the leading global producers of:
- alloying metals, particularly manganese and nickel, used to improve the properties of steel, and
- high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
ERAMET is also developing high growth potential activities, such as mineral sands (titanium dioxide and zirconium), lithium and recycling. The Group employs approximately 14,000 people in 20 countries.
This press release may include forward-looking statements within the meaning of the U.S. federal securities laws in addition to historical information. These statements include but are not limited to our plans, objectives, expectations and intentions and other statements that contain words such as "expects," "contemplates," "anticipates," "plans," "intends," "believes" and variations of such words or similar expressions that predict or indicate future events, or that do not relate to historical matters. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. There can be no assurance that our beliefs or expectations will be achieved. Actual results may differ materially from our beliefs or expectations due to economic, business, competitive, market and regulatory factors. Except as required by law, the company disclaims any obligation to publicly update such statements.