LKAB Minerals invests in the North East to acquire Intermag, specialists in Magnesia processing.
“Intermag is an exciting incremental addition to LKAB Minerals business and aligns with our strategy to significantly grow the business over time through continuous organic, innovation, and acquisition-driven growth. Intermag is an ideal fit for LKAB Minerals and will strengthen our portfolio of products, particularly in the polymers and coatings sectors”. Darren Wilson, CEO of LKAB’s Industrial Minerals division.
Intermag has a strong niche position in the UK specialized Magnesia business, focusing on customised blending solutions to suit customer needs. Historically, the key customers are in the polymers industries, with the products used in active, specialised applications.
“This is a positive step for both companies. We both specialise in high-quality mineral processing, this acquisition enables us to extend our product offer to customers. I look forward to welcoming the new co-workers to LKAB Minerals.” says Rowan Elliott, Managing Director, LKAB Minerals Ltd.
Intermag was established in 1980 and was previously owned by Omya UK Ltd, and has three full-time employees. The company will be integrated into LKAB Minerals’ existing UK business under the leadership of Rowan Elliott, Managing Director for the UK operation.
“We are pleased to have found LKAB as a strategic buyer for Intermag where both businesses are highly complementary. We look forward to continued collaboration with LKAB and Intermag to ensure a seamless transition for customers and employees.’ Bill Cardew, Director of Business Development Europe, Omya.
The acquisition is complete as of the 1st April 2022, and LKAB Minerals Ltd has assumed full ownership of Intermag. Operations and customer orders will not be affected by the acquisition.
About LKAB Minerals
LKAB is an international mining and minerals group that offers sustainable iron ore, minerals and special products. We are committed to developing carbon-free processes and products by 2045, leading the transformation of the iron and steel industry. Since 1890 we have developed through unique innovations and technological solutions and are driven forward by more than 4,500 employees in 12 countries. In 2021, the LKAB group had sales of about SEK 48 billion. www.lkab.com
LKAB Minerals the international industrial minerals division of LKAB, developing and delivering circular, critical and climate-efficient mineral products. LKAB Minerals has sales representation, offices, production units and deposits in 12 countries in Europe, Asia and the US and employs around 400 people.
High-quality niche Magnesia blending, screening, and classifying unit situated in North East England – a business established in 1980 and has gained a reputation for consistent quality.