Elmet Acquires $124.8 Million Equity Stake in Masan High-Tech Materials to Secure Tungsten Supplies

MT newswire2026/09/24 07:44

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03:44 AM EDT, 09/24/2026 (MT Newswires) -- Elmet (ELMT) is acquiring a 5% equity stake in Vietnam's Masan High-Tech Materials for $124.8 million, the company said Wednesday. The acquisition solidifies a 12-year commercial relationship between the two companies under which Masan provides Elmet with tungsten materials, Elmet said. Masan has also agreed to supply Elmet with mined tungsten from its Nui Phao mine as well as to provide tungsten conversion services from its refinery in Vietnam, the company said.

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