Elmet Group Invests $125M in Masan High-Tech Materials

PORTLAND, Maine -- The Elmet Group Co. (NASDAQ: ELMT) announced a long-term strategic relationship with Vietnam-based Masan High-Tech Materials Corporation (UPCoM: MSR) under which ELMT will acquire a 4.99% equity stake in MSR for $124.75 million. The investment formalizes a commercial relationship of more than 12 years and strengthens the global tungsten supply chain.

Alongside the equity investment, the companies entered into long-term commercial agreements. MSR will supply ELMT with mined tungsten from its Nui Phao Mine and provide tungsten conversion services from its refining complex in Vietnam. The partnership supports increased refining throughput, new product development, and a broader international customer base.

Transaction Highlights

• Investment Amount: Approximately $125 million ($124.75 million) for a 4.99% equity stake in MSR.
• Supply Agreements: Long-term agreements for mined tungsten supply and conversion services.
• Governance: ELMT will receive one seat on MSR's Board of Directors.
• Timeline: Completion is expected in the third quarter of 2026, subject to customary closing conditions.

This initiative builds on a landmark investment ELMT received from the United States Government to enhance its position as a vertically integrated provider of critical materials. Additionally, ELMT will support MSR's planned uplisting to the Ho Chi Minh Stock Exchange and its evaluation of an international listing.