Elmet Group to acquire 4.99% stake in Masan High-Tech for $124.75M

The Elmet Group (NASDAQ: ELMT) announced it will acquire a 4.99% equity stake in Vietnam-based Masan High-Tech Materials Corporation (UPCoM: MSR) for $124.75 million, according to a press release from the Maine-based company.

The investment formalizes a commercial relationship of more than 12 years between the two companies. Alongside the equity acquisition, the parties entered into long-term supply agreements under which MSR will supply ELMT with mined tungsten from its Nui Phao Mine and provide tungsten conversion services from its refining complex in Vietnam.

MSR operates the Nui Phao Mine, which the press release describes as one of the largest tungsten deposits in the world, along with an integrated refining complex in Thai Nguyen Province, Vietnam. ELMT processes downstream tungsten materials into precision-engineered components for aerospace, defense, semiconductor, medical, industrial, and energy customers.

"We value the opportunity to formalize our relationship with MSR, which furthers our progress toward a resilient tungsten supply chain," said Elmet Group CEO and Chairman Peter V. Anania.

In connection with the investment, ELMT will receive one seat on MSR's Board of Directors. ELMT also said it will support MSR's planned uplisting to the Ho Chi Minh Stock Exchange and its evaluation of an international listing.

Completion of the equity investment is subject to customary closing conditions, including regulatory and corporate approvals, and is expected to occur in the third quarter of 2026. The commercial agreements take effect upon completion.

The announcement follows a previously disclosed $450 million committed investment from the United States Government, announced on September 14, 2026.

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