Eramet : Erasteel disposal overshadowed by weak latest pricing data
>Erasteel disposal closed, positive for risk profile - Eramet announced yesterday it has closed the sale of tool steel unit Erasteel, in line with the indicated schedule. The mining group had announced the sale of Erasteel to private equity fund Syntagma Capital on 22 February and said the closing would take place by the end of H1. We understand that the sale should not bring any major proceeds. For the record, the group had fully written down Erasteel’s value at the...Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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