Metals and materials manufacturer Elkem has completed a deal to acquire metal powders manufacturer KeyVest Belgium S.A., positioning the firm to expand its portfolio and fuel further growth. KeyVest supplies metal powders to the refractory industry and for other applications, including advanced ceramics.
Founded in 2007, KeyVest processes and mills silicon carbide and silicon metal powders. The company also distributes other related products like ferrosilicon nitride, fused silica, boron carbide, and aluminum powder.
“The acquisition of KeyVest fits well into Elkem’s offerings to the refractory market, enabling us to further grow by providing additional specialized products to our current customers, improve our service level and processing capabilities and grow in adjacent segments,” Inge A. Grubben-Strømnes, senior vice president, Silicon Products for Elkem, said in a release. “Through this agreement, we also secure opportunities for production optimization. This is in line with Elkem’s strategy of growth through increased specialization.”
Refractory materials can withstand high temperatures and are used in applications like lining furnaces used in the steel, cement, and aluminum industries.
The business will be purchased from a subsidiary of private investment firm Holta Invest AS. The transaction closed on June 20.