Elmet Group signs deal to acquire OSRAM's tungsten/molybdenum ops in Germany

Elmet Group Co.

Purchase price formula: fixed negative €18M plus pension assets, minus pension liabilities, minus €1M restructuring prepayment, plus/minus working capital vs €3.875M.
OSRAM grants €2.5M interest-free vendor loan, repayable in two equal installments within 12 months of closing.
Closing expected Q1 2027 subject to regulatory approvals; liquidated damages of €1.35M if Elmet fails to close.
Tungsten price surged from $330 to over $3,000 per MTU (800%+) since Jan 2025, a key purchase-price risk factor.
Schwabmünchen site (since 1961) to expand into TZM and tungsten heavy alloy; Elmet plans investment in workforce and equipment.

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