Glencore Inter GLEN Vale manganese ferroalloy acquisition completion

  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: paul.smith@glencore.com  e: charles.watenphul@glencore.comt: +44
(0)20 7251 3801



Elisa Morniroli (Investors)


t: +41 (0) 41 709 2818 

m: +41 (0) 79 833 0508


e: elisa.morniroli@glencore.com





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

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