The Plansee Group of Reutte, Austria, has agreed to purchase the Global Tungsten & Powders (GTP) business unit from OSRAM GmbH, a Siemens company. GTP, which posted fiscal year 2007 sales of approximately $437 million, employs 1,050 people at plants in Towanda, Pa., and the Czech Republic. GTP’s plant in Pennsylvania is a major supplier of tungsten powders in North America. It makes molybdenum powders as well as tungsten and molybdenum wire, rod, sheet and parts.
GTP, which was founded in 1941, also processes tungsten-ore concentrate and recycles hard-materials scrap. Plansee plans to expand tungsten production at Towanda and keep the unit’s current management team. GTP will become a fourth division of Plansee.
Plansee Purchases Tungsten Business
April 28, 2008