Neo Material acquires controlling stake in German rare metals recycler

Archiv – Germany / Canada | Specialist in rare metal applications Neo Material Technologies Inc has purchased a 50% stake and voting control in Germany’s Buss & Buss Spezialmetalle GmbH to expand its rare metals business.
Sagard-based Buss & Buss specializes in the recycling and recovery of rare metals, through a network in North America, Europe, Russia, Kazakhstan and other countries.
Germany / Canada | Specialist in rare metal applications Neo Material Technologies Inc has purchased a 50% stake and voting control in Germany’s Buss & Buss Spezialmetalle GmbH to expand its rare metals business.
Sagard-based Buss & Buss specializes in the recycling and recovery of rare metals, through a network in North America, Europe, Russia, Kazakhstan and other countries.
’The combination of Neo’s existing rhenium operation with Buss & Buss will result in the largest capacity and capability for recycling rhenium from super alloys in the world,’ says Constantine Karayannopoulos, President and CEO of the Canadian company. ’Together we have the technology and capacity to recycle a wide range of rhenium containing super alloys and produce high purity ammonium perrhenate and rhenium metal. We look forward to working with our new partners at Buss & Buss and continuing to expand our rare metals business.’
Buss & Buss’ main business is the recycling of rhenium from super alloy parts and scrap. It also recovers and upgrades other minor metals such as tantalum. Rhenium is a strategic material of critical importance to the commercial and military aerospace industries. It greatly enhances the high temperature strength and structural properties of super alloys used primarily in turbine hot section blades and surface coatings, resulting in increased fuel efficiency and lower green house gas emissions.
The deal value was not disclosed, but Neo said a portion of the cost was paid into an escrow account to be held for a year from the date of closing, Neo said in a statement. Neo said it may acquire the rest of the shares of Buss & Buss in certain circumstances.