GTP employs 1,050 people and will become a new division of the Plansee Group.
GTP used to be part of the lighting manufacturer Osram for many years. Its expertise in processing tungsten ore concentrate and recycling of hard materials scrap has enabled the company to become the leading supplier of tungsten powders in North America. Its product range additionally includes molybdenum powders and semi-finished products, as well as other powders that are relevant to the Plansee Group’s markets. GTP’s main customers are from the aerospace, automotive, coating, electronics, energy and lighting industries.
GTP has production sites in Towanda, Pennsylvania, and Bruntál, Czech Republic, and employs 1,050 people. In the last fiscal year, it recorded sales of approximately 280 million euros.
“This acquisition is an important strategic step, and will ensure our longterm supply of tungsten raw materials. It will also allow us to further strengthen our position in the refractory metals market in North America,” says Michael Schwarzkopf, chairman of the Plansee Group executive board. To meet the Group’s increasing requirements for tungsten powders, the Group plans to expand the Towanda site.
GTP will become the Plansee Group’s fourth division. “GTP has performed well in the last couple of years,” says Schwarzkopf. “We believe in the management team, and have no plans to make any significant changes to the product or customer portfolio.”
Once the acquisition is complete, the Plansee Group will meet its regional sales target – 50 percent in Europe and 25 percent each in America and Asia. The Group will then employ more than 10,000 people worldwide, 2,000 each in the US and Austria.
With its three divisions – PLANSEE High Performance Materials, CERATIZIT and PMG – the Plansee Group is one of the world’s leading suppliers of powder metallurgical products and components.
The Group achieved worldwide sales of over 1.4 billion euros in the 2006/07 fiscal year (ignoring differing shares of ownership) and employed a total of 8,800 people.
Plansee Group Acquires US Powder Expert GTP
Date: 20 April 2010
Source: Plansee Group
With the acquisition the Plansee Group will increase the company’s competitiveness and raw materials supply base for tungsten products, and expand its refractory metals activities in North America.