Miami-based Georgian American Alloys (GAA), a leading manufacturer, supplier and trader of ferroalloys has announced its 100% ownership interest in Georgia-based Georgian Manganese (GM) and Vartsikhe 2005.
GM is one of the top producer and exporter of standard and high-grade silicomanganese in the U.S. GM comprises of three separate divisions, Chiatura Manganese Mine, a manganese ore mining operation; Zestafoni Ferroalloy Plant, a silicomanganese processing plant; and Vartsikhe, the hydroelectric facility that powers the Zestafoni plant and Chiatura mine. This unique organizational structure allows GM to control all facets of the production process, and gives it significant cost and operational advantages.
GAA has previously provided management support to GM, which gives it the knowledge necessary to ensure a seamless integration of GM into its portfolio. GAA’s strategic acquisition of GM is a testament to its growing network of complementary ferroalloy businesses, which includes Felman Production, Felman Trading and CC Metals and Alloys.
Mr Mordechai Korf, CEO of GAA said, “We are very happy to complete this acquisition, as it directly aligns with GAA’s long term goal of building the world’s premier ferroalloys source. The rare combination of a mine, refining facility and power plant creates a number of unique competitive advantages and cost synergies.”
Mr Velvel Lozynskyy, Director of Georgian Manganese added, “We are eager to take full advantage of GAA’s financial capabilities and distribution platform in order to serve our clients better through stronger, more comprehensive offerings and more reliable service than ever before.”