“The acquisition of Tikomet is a perfect strategic fit for us and increases the products that GTP can provide its customers”, says Dr. Andreas Lackner, President and CEO of Global Tungsten & Powders Corp.
“This transaction enables us to carry out the next step in our long-term strategy: to be able to better serve our customers globally”, comments Dr. Matti Kurkela, Managing Director of Tikomet.
Global Tungsten & Powders (GTP), headquartered in Towanda, Pennsylvania, is one of the largest processors of tungsten raw materials in the western world with its history dating back to 1916. GTP is a division of the Austrian based Plansee Group.
With the divisions Plansee High Performance Materials, Global Tungsten & Powders (GTP) and Ceratizit and the investment in Molymet, the Plansee Group, headquartered in Reutte, Austria, belongs to one of the worldwide leading powder metallurgical industrial groups that covers the whole supply chain of the high-tech materials Molybdenum and Tungsten – from ore processing to the production of customer-specific components.
Tikomet is one of the global market, technology and quality leaders with proprietary technology of high quality zinc reclaim powders. In the mid-1990s the company started producing powders for use in the tire stud market. Later the zinc process was further developed to be able to produce the high-quality zinc reclaim powders required in the hard metal industry. Since then the business has significantly expanded and today the company operates globally.Back to transactions