source: Höganäs news
Höganäs AB has signed an agreement to acquire German H.C. Starck Group’s Surface Technology & Ceramic Powders division, STC. The acquisition is a strategic fit, enabling Höganäs to gain critical mass within surface coating and additive manufacturing.
STC is a leading global manufacturer of surface technology, ceramic and additive manufacturing powders for a wide variety of end-market applications. The company operates as a legally separated stand-alone division within the H.C. Starck Group.
“STC’s extremely competent workforce, together with significant development capabilities will enable us to support our customers more and help them bring new applications to the market,” says our CEO Fredrik Emilson.
The acquisition will successfully position Höganäs on the trajectory towards achieving its long-term strategy. It will also enable Höganäs to leverage its global sales network and provide an opportunity to cross-sell existing products to STC’s customers and vice versa.
“STC is an exciting company with attractive growth potential and a good strategic fit for Höganäs. STC’s broad product portfolio and strong trademarks will expand our existing product portfolio and add significant product development capabilities and know-how to Höganäs. The acquisition of STC also enables us to get access to new customer segments within aerospace and adds a complementary geographic fit with STC’s strong presence in Europe in addition to our strong geographical presence in Asia and Americas,” says Fredrik Emilson, CEO of Höganäs.
“We look forward to welcoming our new colleagues to Höganäs and to collectively work towards achieving our targets and cement our position as the world’s leading manufacturer of metal powders”, says Fredrik Emilson.
The closing of the transaction is expected during the first half of 2018 and is subject to the approval of relevant authorities.
Höganäs product portfolio contains more than 1,500 products of which most are customer specific. The product range includes metal powders used for production of sintered components and welding electrodes; alloys for surface protection of exposed metal surfaces; brazing filler metals and pastes as well as inductors and electric drive systems.
About STC
STC is a leading global manufacturer of surface technology, ceramic and additive manufacturing powders for a wide variety of end-market applications. STC produces a broad range of highly customized metallic and ceramic powders which target niche applications in a diversified set of end-markets including industrial gas turbines, aviation, oil & gas, welding, medical, various industrial applications, thermal management & clean energy and additive manufacturing. STC operates two production facilities in Germany and has a workforce of approximately 360 employees. In 2016, the company reported revenues slightly above EUR 100m of which approximately 50% was generated from Europe.