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Ferroglobe to acquire manganese plants in France, Norway from Glencore unit

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Ferroglobe to acquire manganese plants in France, Norway from Glencore unit

Ferroglobe Plc plans to acquire a 100% interest in manganese alloys plants in Dunkirk, France, and Mo I Rana, Norway, from a Glencore Plc unit.

The company entered into an agreement for its unit Grupo FerroAtlántica SA to acquire the plants from a subsidiary of Glencore International AG. Ferroglobe is aiming to increase its manganese alloys sales, which totaled about 135,000 tonnes of ferromanganese and 132,000 tonnes of silicomanganese in 2016.

The plants sold about 160,000 tonnes of ferromanganese and 110,000 tonnes of silicomanganese during the same period, according to the Nov. 21 release. Additionally, Glencore will enter a 10-year agreement to market Ferroglobe's manganese alloys products worldwide, and purchase manganese ores to supply to the plants.

The transaction is expected to close in the first quarter of 2018.