PERTH (miningweekly.com) – ASX-listed OM Holdings has made a $120-million offer to acquire the remaining 25% interest in Malaysian operating subsidiaries OM Sarawak and OM Samalaju.
OM Holdings, through its wholly-owned subsidiary OM Materials, currently owns a 75% interest in both of these companies, with joint venture partner Samalaju Industries holding the remaining interest.
OM Sarawak holds a ferrosilicon and manganese alloy smelter in Sarawak, which has a yearly production capacity of between 200 000 t and 210 000 t of ferrosilicon and between 250 000 t and 300 000 t of manganese alloy. The plant consists of a sinter plant with a design capacity of 250 000 t/y of sinter ore.
SM Samalaju develops and manages selected capital projects on behalf of OM Sarawak.
OM Holdings CEO and executive chairperson Low Ngee Tong said that the transaction, along with OM Holding’s recent secondary listing in Bursa, marked a key milestone in the company’s journey and complemented the wider OM Holdings strategy of growing its Sarawak smelter and becoming the leading supplier of ferroalloys globally.
The transaction is subject to a number of conditions, including third-party consent, shareholder and exchange approvals, and other relevant regulatory approvals.