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: [phone]                 t: [phone]                            Guy Lamming

m: [phone]               m: [phone]                          Dorothy Burwell

e: [e-mail]       e: [e-mail]      t: [phone]

Elisa Morniroli (Investors)                                                           

t: [phone]                                                   

m: [phone]                                                             

e: [e-mail]

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.

 

END

 

 

MSCBKDDQBBDBBKN