- Published: Thursday, 19 May 2011 15:35
- Written by E&MJ News
In separate transactions announced in April 2011, Molycorp reported it had acquired a 90.023% controlling stake in AS Silmet, an Estonia-based rare metal and rare earth metal producer, and a 100% interest in Santoku America, Inc., a leading producer of high-purity rare earth alloys and metals based in Arizona. The Silmet transaction was valued at about $89 million; the Santoku America transaction was valued at $17.5 million. Silmet has changed its name to AS Molycorp Silmet. Santoku America has been renamed Molycorp Metals and Alloys, Inc.