GEM Acquires 60% Stake in Shu Powders

Metal Bulletin reported that cobalt powder producer Jingmen GEM–fully owned subsidiary of Shenzhen Stock Exchange-listed GEM Co. Ltd. (SHE:002340)–has acquired a 60 percent stake in Shu Powders. The acquisition creates cobalt opportunities for both companies.
As quoted in the article:

The two companies are complementary: GEM is one of the biggest cobalt powder sellers to the Chinese and Korean markets, while Shu is in a similar position in the USA and Europe. They do not appear to overlap in a big way in terms of their traditional client-bases. Their main competitors are understood to be Umicore and Freeport Cobalt in the USA and Europe, and Nanjing Hanrui in Asia. The acquisition and Shu and GEM’s expansion plans could mean a shift in market dominance, cobalt market sources have said.

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