Molycorp (MCP) Acquires Santoku America in $17.5M Deal
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Molycorp, Inc. (NYSE: MCP) subsidiary, Molycorp Minerals, LLC, has acquired Santoku America, Inc., in an all-cash deal for $17.5 million.
From the release: "The acquisition provides Molycorp with the capability to immediately begin manufacturing and selling rare earth alloys for the production of neodymium iron boron (NdFeB) magnets (used in electric and hybrid cars, advanced wind energy turbines, and many high tech electronics and applications) and samarium cobalt (SmCo) magnets (used in defense and other applications), as well as a variety of other specialty alloys and products."
From the release: "The acquisition provides Molycorp with the capability to immediately begin manufacturing and selling rare earth alloys for the production of neodymium iron boron (NdFeB) magnets (used in electric and hybrid cars, advanced wind energy turbines, and many high tech electronics and applications) and samarium cobalt (SmCo) magnets (used in defense and other applications), as well as a variety of other specialty alloys and products."
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