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Print[Ferro-Alloys.com] Valmont Industries sold its 49% share in South Africa’s Manganese Metal Company (MMC) to the MMC’s majority shareholders, effective Mar.
The majority shareholders, MM Holdings, purchased BHP Billiton’s 51% share in June 2010. The company will continue to operate at its 30,000-mtpy at capacity.
Valmont owned the stake after it acquired Delta plc; Delta held MMC via a South African holding company called Bilston Investments Proprietary. All the outstanding shares of Bilston were sold to three South African purchasers for USD30-million. Bilston contributed USD5.1-million after tax to Valmont in 2012.
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