Element Six Completes its Acquisition of Barat Carbide Group

    SHANNON, Ireland, Oct. 4 /CNW/ - Element Six announces the completion of
its acquisition of Barat Carbide Holding GmbH from the German private equity
investor, Equita. The acquisition is one of the largest and most significant
in the group's history and raises the group's total turnover to US$0.5bn and
the number of employees to 4,000.
    "Acquiring Barat Carbide is an important step for Element Six in its
ambitious programme of growth over the next few years with the aim of
generating US$1bn in revenue within the next few years. In particular, it will
support the company's goal of bringing novel material engineering solutions to
a broad range of new markets and applications," says Christian Hultner, CEO of
Element Six.
    Karl-Georg Hildebrand, Managing Director of Barat Carbide adds, "The
strengths of both organisations in their different markets make us a powerful
force in the materials technology sector. This is a very exciting period in
the materials business as rapid developments in technology are creating new
market opportunities."

    New business opportunities

    "Adding Barat Carbide to the Element Six group of companies is a key part
of our growth strategy as well as underlining our position as the leader in
the development of hard frontier materials," notes Christian Hultner. "We not
only broaden and strengthen our activities in materials technology but we will
also be able to benefit immensely from combining our joint expertise to offer
innovative materials solutions that currently lie outside the scope of
existing technology."
    The acquisition brings together companies with leading positions in
complementary fields. Barat Carbide is a leader in the development and
manufacturing of tungsten carbide wear solutions for soft rock tools in
mining, construction and road planing as well as wear parts for oil & gas,
chemical and other industries.
    Element Six is the major player in the development of synthetic diamond
and cubic boron nitride for various industrial applications. Its products are
mainly used in the manufacture of tools for applications including drilling,
sawing, cutting, grinding and polishing of many different materials ranging
from ferrous and non-ferrous metals, natural stone and concrete, wood based
materials, plastics, glass and ceramics. Another arm of its business deals
with synthetic diamond products for use advanced engineering solutions in
medical, optical, radio frequency, thermal management and precision
    Materials science research is in an extremely active and exciting phase
with the development of a variety of new processing technologies driving a
convergence between superabrasives and tungsten carbide- materials that have
been perceived as having distinct markets and application areas. "The combined
knowledge base of Element Six and Barat Carbide in these areas will lead
product innovation to deliver new levels of performance to our customers,"
says Christian Hultner.

    The Element Six group of companies operates internationally with
processing and manufacturing facilities in Germany, Ireland, Sweden, South
Africa, China, Ukraine and the United Kingdom plus has an extensive global
distribution network.

For further information:

For further information: John Caldwell, Telephone +353-(0)61-460015,
Element Six, Ireland; Karl-Georg Hildebrand, Telephone: +49(0)6652-82-320,
Barat Carbide GmbH, Burghaun

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