Magnet manufacturers: Is a German key technology going to an US group? Ministry checks risks of the VAC deal
Energy Fuels has announced that it will buy the Hanau-based company Vacuumschmelze. The Ministry of Economic Affairs is now examining the deal for security risks - but a stop is considered unlikely.
The German Federal Ministry of Economic Affairs is reviewing the planned takeover of Vacuumschmelze (VAC) by US-based Energy Fuels for $1.9 billion. VAC, a magnet manufacturer based in Hanau, Germany, is currently owned by US investment firm Ara Partners, which acquired it in 2023. The ministry will examine whether the deal poses a risk to German security interests, particularly with regards to supply chain security, as Energy Fuels operates its own supply chain and extracts raw materials.
VAC employs around 4,000 people and is a leading manufacturer of magnetic materials used in key technologies such as electric cars, wind turbines, and artificial intelligence.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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