Jul. 14, 2015, 7:52 AM
- Globe Specialty Metals (NASDAQ:GSM) and Grupo FerroAtlantica name the executives who will lead the company after their merger, which is expected to close later this year.
- The combined company will be called Ferroglobe PLC and will be led by Grupo FerroAtlantica CEO Pedro Larrea Paguaga.
- GSM's executive chairman and founder Alan Kestenbaum will serve as CEO until the deal closes and will then become executive chairman of the combined company.
- GSM CFO Joseph Ragan will assume the same role at the combined company, but GSM CEO Jeff Bradley will step down at the end of August to pursue other interests.
Feb. 23, 2015, 7:41 AM
- Metal producers Globe Specialty Metals (NASDAQ:GSM) and Grupo FerroAtlantica agree to merge through an all-stock transaction, forming a company with a combined enterprise value of $3.1B.
- Grupo Villar Mir, the parent of FerroAtlantica, will own 57% of the new company and GSM shareholders will own the rest.
- Almost 90% of GSM’s revenue comes from North America, while Madrid-based FerroAtlantica generates most of its sales in Europe.
Ferroglobe PLC provides silicon and specialty metals. It produces silicon metal and silicon and manganese based alloy, serving key customers in the specialty chemical, aluminum, solar, steel and ductile iron foundry industries. The company was founded on February 5, 2015 and is headquartered in... More
Sector: Basic Materials
Industry: Industrial Metals & Minerals
Country: United States