Glencore Inter (GLEN) - Vale manganese ferroalloy acquisition completion RNS Number : 0413Q Glencore International PLC 01 November 2012 Baar, Switzerland 1 November 2012 Glencore completes the acquisition of Vale's European manganese ferroalloys operations Glencore International plc ("Glencore" or the "Company") today announces that it has, through subsidiaries, completed the acquisition of Vale's European manganese ferroalloys operations, for a cash consideration of USD$160 million. The operations, located in Dunkirk, France and Mo I Rana, Norway, currently have the capacity to produce 150,000 tonnes and 110,000 tonnes of manganese ferroalloys per annum respectively. As part of the transaction, Glencore will become the marketing agent for Vale's metallurgical manganese ore outside Brazil for a period of five years. This is the first time that Glencore has expanded into manganese production, strengthening our marketing offer as well as complementing the department's existing production of other ferroalloys.The acquisition of these operations will add further value to Glencore as the company continues to grow its ferroalloys business. Both operations are strategically well placed in the European ferroalloys market, providing Glencore with an even stronger platform to meet the needs of its customers on the Continent, as well as in other countries. For further information, please contact: Paul Smith (Investors) Charles Watenphul (Media) RLM Finsbury (Media) t: +41 (0)41 709 2487 t: +41 (0) 41 709 2462 Guy Lamming m: +41 (0)79 947 1348 m: +41 (0) 79 904 3320 Dorothy Burwell e: firstname.lastname@example.org e: email@example.com: +44 (0)20 7251 3801 Elisa Morniroli (Investors) t: +41 (0) 41 709 2818 m: +41 (0) 79 833 0508 e: firstname.lastname@example.org About Glencore International plc Glencore is one of the world's leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products. This information is provided by RNS The company news service from the London Stock Exchange END MSCBKDDQBBDBBKN -0- Nov/01/2012 07:01 GMT
Glencore Inter GLEN Vale manganese ferroalloy acquisition completion
Press spacebar to pause and continue. Press esc to stop.