Mitsubishi Materials to acquire a 10% stake in Masan High-Tech Materials for $90m.

Mitsubishi Materials, a manufacturer of cement products, copper and aluminum products, cemented carbide tools, and electronic materials, agreed to acquire a 10% stake in Masan High-Tech Materials, a Vietnamese materials company, for $90m. Makoto Shibata, Director and Chief Financial Officer of Mitsubishi Materials, said the tungsten business including the cemented carbide tool business is viewed as one of the major pillars of its growth strategy, adding that new investment in Masan High-Tech Material will have a significant impact on the firm’s development.