REG-Vesuvius Plc: Acquisition

VesuviusAnnouncement

13/11/2025 07:02

    

13 November 2025

 

Vesuvius plc

Completion of Acquisition of the Molten Metal Systems business

from Morgan Advanced Materials Plc

 

Vesuvius plc is pleased to confirm that the acquisition of the Molten Metal
Systems (“MMS”) business from Morgan Advanced Materials Plc (“Morgan”)
by the Vesuvius group (the “Group”) completed on 12 November 2025, as
announced on 22 August this year.

                                The acquisition increases the Group’s and
the Foundry business’ exposure to the faster-growing non-ferrous market
segment and to India, in line with our strategic growth ambitions. The
business is highly complementary to our existing business and will take the
Foundry division’s share of revenue from non-ferrous sales from 21% (2024)
to c.27% on a pro forma basis. It will also increase our manufacturing
footprint and sales exposure to the attractive and fast-growing Indian market,
a core growth market for the Group. We expect to realise significant cost
synergies, which will further drive value for the Group and will be accretive
to Group return-on-sales and earnings per share from the first year of
ownership.

Consideration comprises newly issued shares in the Group’s listed Indian
subsidiary, Foseco India Limited (FIL), for the 75% holding of Morgan in
Morganite Crucible (India) Limited (MCIL), plus £20m of cash for the
remaining worldwide assets of MMS. Accordingly, FIL now holds 75% of MCIL and
Vesuvius owns 64% of FIL, while Morgan owns 15% of FIL.  

The impact on pro-forma Vesuvius leverage is neutral, given EBITDA acquired,
synergies and the split between cash and issuance of new equity by Foseco
India Limited.

About MMS

MMS supplies high-tech crucibles globally, principally in the non-ferrous
market segment, with c.50% of revenue derived from aluminium producers and the
majority of the remainder from copper alloys and precious metals. MMS had
turnover of c.£42m in 2024 (of which c.20% was in India) and EBITDA of
c.£8m.


 For further information, please contact:                                                 
 Vesuvius plc           Mark Collis, Chief Financial Officer        +44 (0) 207 822 0000  
                        Rachel Stevens, Head of Investor Relations  +44 (0) 7387 545 271  

 

 

About Vesuvius plc

Vesuvius is a global leader in molten metal flow engineering and technology
principally serving process industries operating in challenging high         
-          temperature conditions. We develop innovative and customised
solutions, often used in extremely demanding industrial environments, which
enable our customers to make their manufacturing processes safer, more
efficient and more sustainable. These include flow control solutions, advanced
refractories and other consumable products and increasingly, related technical
services including data capture.

 

We have a worldwide presence. We serve our customers through a network of
cost-efficient manufacturing plants located close to their own facilities, and
embed our industry experts within their operations, who are all supported by
our global technology centres.

 

Our core competitive strengths are our market and technology leadership,
strong customer relationships, well established presence in developing markets
and our global reach, all of which facilitate the expansion of our addressable
markets.

 

Our ultimate goal is to create value for our customers, and to deliver
sustainable, profitable growth for our shareholders giving a superior return
on their investment whilst providing each of our employees with a safe
workplace where they are recognised, developed and properly rewarded.

 

We think beyond today to create solutions that will shape the future.         
 

 

Forward looking statements

This announcement contains certain forward looking statements which may
include reference to one or more of the following: the Group’s financial
condition, results of operations, cash flows, dividends, financing plans,
business strategies, operating efficiencies or synergies, budgets, capital and
other expenditures, competitive positions, growth opportunities for existing
products, plans and objectives of management and other matters.

 

Statements in this announcement that are not historical facts are hereby
identified as "forward looking statements". Such forward looking statements,
including, without limitation, those relating to the future business
prospects, revenue, working capital, liquidity, capital needs, interest costs
and income, in each case relating to Vesuvius, wherever they occur in this
announcement, are necessarily based on assumptions reflecting the views of
Vesuvius and involve a number of known and unknown risks, uncertainties and
other factors that could cause actual results, performance or achievements to
differ materially from those expressed or implied by the forward looking
statements. Such forward looking statements should, therefore, be considered
in light of various important factors that could cause actual results to
differ materially from estimates or projections contained in the forward
looking statements. These include without limitation: economic and business
cycles; the terms and conditions of                    Vesuvius’ financing
arrangements; foreign currency rate fluctuations; competition in Vesuvius’
principal markets; acquisitions or disposals of businesses or assets; and
trends in Vesuvius’ principal industries.

 

The foregoing list of important factors is not exhaustive. When considering
forward looking statements, careful consideration should be given to the
foregoing factors and other uncertainties and events, as well as factors
described in documents the Company files with the UK regulator from time to
time including its annual reports and accounts.

 

You should not place undue reliance on such forward looking statements which
speak only as of the date on which they are made. Except as required by the
Rules of the UK Listing Authority and the London Stock Exchange and applicable
law, Vesuvius undertakes no obligation to update publicly or revise any
forward looking statements, whether as a result of new information, future
events or otherwise. In light of these risks, uncertainties and assumptions,
the forward looking events discussed in this announcement might not occur.

 

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

LEI: 213800ORZ521W585SY02 (Vesuvius)

LEI: I4K14LL95N2PHDL7EG85 (Morgan)

www.vesuvius.com

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