LONDON--Globe Specialty Metals Inc. (GSM) has agreed to merge with privately owned Spanish company Grupo FerroAtlantica in an all-share deal that will create the world's largest, low cost silicon metals and alloys producer.
Creates a Global Leader in Fast-Growing Silicon and Specialty Metals Industry Creates Diversified Global Player Positioned for Growth with Broader Product Offering
Strong Balance Sheet, Lower Costs and Greater Geographic Reach Better Able to Serve Customers in Rapidly Growing End Markets Transaction Expected to Generate Substantial Synergies Accretive to Globe Specialty Metals Shareholders on an Earnings per Share Basis in the First Year Globe Specialty Metals and Grupo FerroAtlántica Management to Host Conference Call Today at 8:30 a.m. Eastern Time MADRID and MIAMI , Feb.
Adjusted EBITDA increased 43% to $37.4 million, from the second quarter of last year and up 8% from the prior quarter
Adjusted EBITDA Margin increased 29% to 18.9%, from the second quarter of last year and up by 2.1% from the prior quarter
Adjusted diluted earnings per share attributable to GSM increased 62% to $0.21, from the second quarter of last year and up 11% from the prior quarter
Sales of $198.0 million were 11% higher than the second quarter of last year and down 4% from the prior quarter
Converted silicon alloy capacity to more profitable silicon metal, increasing annual silicon metal capacity to more than 120,000 mt and moved that silicon alloy production to our South Africa silicon alloys facility, which commenced production in October 2014
The Board of Directors authorized an increase in the Quarterly Dividend to $0.08 per share to be paid on March 12, 2015 to Shareholders of Record as of February 26, 2015
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