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Masan High-Tech and Mitsubishi to Develop Tungsten Materials Platform

Masan High-Tech Materials (MHT), a subsidiary of Vietnam-based conglomerate Masan Group, has signed definitive agreements to establish a strategic alliance with Japan’s Mitsubishi Materials Corporation (MMC). to develop a high-tech tungsten materials platform.

The amount of strategic investment is US$ 90 million (approx. 9.5 billion yen). At the moment, the strategic investment is scheduled to be completed by November 2020, and the Company's stock ownership ratio is expected to be 10% after the strategic investment. After the strategic investment is completed, the two parties will negotiate to develop an independent business unit to strengthen and unlock synergies for their respective midstream platforms.

After acquiring the world's leading tungsten midstream platform-Germany's Strarck Group in June this year, MMC as a strategic partner established transformation into a vertically integrated high-tech platform. Strategic partner MMC will provide significant value-added and is positioned to provide customers with better advanced solutions to boost growth.

Masan High-Tech Materials is a subsidiary of Masan Group. The company, a leading supplier of critical minerals including tungsten, fluorspar and bismuth, is currently operating a world-class polymetallic mineral resource and chemical processing plant in northern Vietnam.

Masan High-Tech Materials is also a leading international supplier of refractory technology metals to growth industrial sectors such as electronics, chemicals, automotive, medical technology, aviation and aerospace, energy and environmental technology from its production locations in Europe, America and Asia. Masan High-Tech Materials' vision is to show the world that a Vietnamese company can lead the transformation of the global tungsten market.

Mitsubishi Materials Group is an "integrated materials manufacturer." Mitsubishi Materials Group meets customers' needs by providing such basic materials as copper and cement. Mitsubishi Materials Group also manufactures and sells mechanical parts, electronic materials and components used in automobiles, home appliances, etc., as well as the tools used to make them. MMC is also involved in recycling and the energy business.

Mitsubishi Materials Group, under the corporate philosophy of "For People, Society and the Earth," pursues the vision of "We will become the leading business group committed to creating a sustainable world through materials innovation, with the use of our unique and distinctive technologies, for People, Society and the Earth.” Going forward, MMC will continue to build a richer society by making unique materials that meet customers’ needs and providing processing solutions best suited to each customer.

Forging a strategic alliance with Mitsubishi Materials Group will certainly accelerate Masan High-Tech's vision to become an end-to-end global high-tech industrial materials platform. The alliance also positions MHT and HCS to build a mid-stream tungsten Asian franchise, which is the missing piece in the strategic puzzle.