Element Six completes its acquisition of Barat Carbide Group

4 October 2007

Element Six announces the completion of its acquisition of Barat Carbide Holding GmbH from the German private equity investor, Equita. The acquisition is one of the largest and most significant in the group's history and raises the group’s total turnover to $0.5bn and the number of employees to 4,000.

"Acquiring Barat Carbide is an important step for Element Six in its ambitious programme of growth over the next few years with the aim of generating $1bn in revenue within the next few years. In particular, it will support the company's goal of bringing novel material engineering solutions to a broad range of new markets and applications," says Christian Hultner, CEO of Element Six.

Karl-Georg Hildebrand, Managing Director of Barat Carbide adds, "The strengths of both organisations in their different markets make us a powerful force in the materials technology sector. This is a very exciting period in the materials business as rapid developments in technology are creating new market opportunities."

New business opportunities

"Adding Barat Carbide to the Element Six group of companies is a key part of our growth strategy as well as underlining our position as the leader in the development of hard frontier materials," notes Christian Hultner. "We not only broaden and strengthen our activities in materials technology but we will also be able to benefit immensely from combining our joint expertise to offer innovative materials solutions that currently lie outside the scope of existing technology."

The acquisition brings together companies with leading positions in complementary fields. Barat Carbide is a leader in the development and manufacturing of tungsten carbide wear solutions for soft rock tools in mining, construction and road planing as well as wear parts for oil & gas, chemical and other industries.

Element Six is the major player in the development of synthetic diamond and cubic boron nitride for various industrial applications. Its products are mainly used in the manufacture of tools for applications including drilling, sawing, cutting, grinding and polishing of many different materials ranging from ferrous and non-ferrous metals, natural stone and concrete, wood based materials, plastics, glass and ceramics. Another arm of its business deals with synthetic diamond products for use advanced engineering solutions in medical, optical, radio frequency, thermal management and precision applications.

Materials science research is in an extremely active and exciting phase with the development of a variety of new processing technologies driving a convergence between superabrasives and tungsten carbide- materials that have been perceived as having distinct markets and application areas. "The combined knowledge base of Element Six and Barat Carbide in these areas will lead product innovation to deliver new levels of performance to our customers," says Christian Hultner.

ENDS

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