OMG sells nickel business to Norilsk

October 29, 2007

OM Group, the Cleveland, Ohio, based producer of cobalt powder and specialist nickel powders, has completed the previously announced sale of its nickel business to Norilsk Nickel for $408 million in cash.

Norilsk is Russia’s largest mining and metallurgical company and the world’s largest producer of Ni, Pd, as well as a major producer of Pt and Cu. OM’s results for 2007 will reflect the nickel business as a discontinued operation. Net sales for the six months ended June 30, 2007, were $447.5 million versus $317.6 million for the comparable period in 2006.

Gross profit rose to $155.9 million in the first half of 2007 compared with $84.7 million in the first half of 2006. As a percentage of net sales, gross profit increased to 34.8% from 26.7%.

Industry News

Read the latest issue of PIM International

The latest issue of PIM International magazine is available to view online or download in PDF format.

As well as an extensive MIM, CIM industry and sinter-based AM industry news section, this 116-page issue includes the following exclusive articles and reports:

  • The evolution of MIM at Matrix: From transforming the production of eyewear components to luxury goods and beyond
  • Desktop Metal’s Live Sinter™: How simulation software is mitigating sintering distortion
  • High-Cycle Fatigue response of MIM 8620 and 100Cr6 steels and their sensitivity to mean stress, notch sharpness and weld line position
  • Perspectives on extrusion-based metal Additive Manufacturing: From bionic design to hollow structures and foams
  • How on-site gas generation supports the integration of sintering facilities into MIM and sinter-based AM operations
  • > Go to magazine page


Register for our e-newsletter and we'll let you know each time a new issue of PIM International magazine is available, as well as keeping you informed of MIM and CIM industry developments.

Industry News

Copy link
Powered by Social Snap