Eramet Considers Sale of Eramet Titanium & Iron Unit in Norway

French metal and mineral leader, Eramet, announced on Tuesday that it is currently engaged in discussions regarding the potential sale of its subsidiary in Norway, Eramet Titanium & Iron (ETI).

According to a statement released by Eramet, the company has received an offer from an undisclosed buyer for the purchase of ETI. The proposed enterprise value of the acquisition stands at an impressive $245 million. ETI operates as an ilmenite transformation plant in Norway, specializing in the production of titanium slag used within the pigment industry, as well as high-purity pig iron supplied to European foundries.

Eramet has expressed its intention to carefully review and evaluate the offer before providing a response. The company assures stakeholders that it will keep them informed of any developments in due course.

As part of its ongoing growth strategy, Eramet has recently ventured into rutile exploration in Cameroon, starting in January 2021. For decades, the company has also been a significant player in manganese production in Gabon through its local subsidiary, Compagnie Miniere de l’Ogooue.