Acquisition of Wolfra-Tech completed

Wolfra-Tech is a privately owned company that employs approximately 180 people. The company is involved in the development, production, marketing and selling of fine wires, flat products and evaporation coils made from tungsten or molybdenum, and primarily supplies the lighting, electronics and automotive industries.

Bernhard Schretter, executive director of PLANSEE High Performance Materials (HPM) comments: “The Wolfra-Tech production site is our first one in India. There we will be able to finish semi-finished products manufactured by the Group at competitive conditions – and this will lead to more benefits for our customers.”

Schretter adds: “It is planned to further develop Wolfra-Tech as an important manufacturing base in the PLANSEE HPM Group in the medium-term with two primary goals, which leverage the strengths of both companies: To better penetrate the Indian market with locally manufactured products and to utilize Wolfra-Tech’s competence through PLANSEE HPM’s global presence to supply wire products to international key accounts.”

About PLANSEE High Performance Materials
PLANSEE High Performance Materials (HPM) is a world-leading manufacturer of products made from refractory metals and metallic composite materials. The privately owned company has been manufacturing innovative powder-metallurgically processed high-performance materials for over 85 years, and covers the whole production process, right from the raw material to the finished product. The company employs materials experts, product developers and local technical sales staff to provide customers all over the world with all the help and assistance they require.

About the Plansee Group
With its four divisions – Plansee High Performance Materials, Global Tungsten & Powders, Ceratizit and PMG – the Plansee Group is one of the world’s leading suppliers of powder metallurgical products and components.

In the 2009/10 fiscal year, the Plansee Group employed 6,000 people worldwide and realized consolidated sales of 852 million euros.

The fiscal year ends on the last day of February.