Luxfer Holdings To Buy ESM Group's Specialty Metals Business

By Zacks Investment ResearchStock MarketsNov 15, 2017 08:36PM ET

www.investing.com/analysis/luxfer-holdings-to-buy-esm-groups-specialty-metals-business-200265787

Luxfer Holdings To Buy ESM Group's Specialty Metals Business

By Zacks Investment Research | Nov 15, 2017 08:36PM ET

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Premium material technology company Luxfer Holdings PLC (NYSE:LXFR) is set to acquire the Specialty Metals business of ESM Group Inc. (ESM Group), for an undisclosed amount. By integrating the new business, the company intends to streamline its operations and enhance the product portfolio. Shares of Luxfer Holdings remained nearly flat even after the company announced the agreement on Nov 14.

Over the last month, shares of this Zacks Rank #2 (Buy) stock have yielded a return of 10%, as against the 0.6% loss incurred by the industry.

Notably, the attractiveness of this stock as a current investment choice is further accentuated by its favorable VGM Score of A.

Inside the Headlines

ESM Group is a subsidiary of German-based specialty chemicals company — SKW Stahl-Metallurgie Holding AG (SKW Group). The company along with its affiliate — Affival Inc. — offers various types of cored-wire products, desulfurization reagents and engineering services. These products and services are offered to steel industries across the globe.

Per the aforementioned deal, Luxfer Holdings will also buy a manufacturing facility owned by ESM Group in Saxonburg, PA, along with the Specialty Metals business. The facility produces different types of magnesium-based granules, chips, atomized powders and ground powders.

Luxfer Holdings stated that the acquired business will be integrated within its existing powder business. Through this business, the company offers products comprising Magnesium Elektron Powder.

On the other hand, ESM Group’s parent company — SKW Group — noted that the Specialty Metals business spin-off is in line with its existing restructuring program.

The deal is currently subject to consents and approvals. However, both companies anticipate to close the transaction over the next few weeks.

Other Stocks to Consider

Other top-ranked stocks in the industry are listed below:

The Gorman-Rupp Company (NYSE:GRC) has an average positive earnings surprise of 23.46% for the last four quarters and currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Kadant Inc (NYSE:KAI) also flaunts a Zacks Rank of 1 and generated an average positive earnings surprise of 20.32% over the preceding four quarters.

Altra Industrial Motion Corp. (NASDAQ:AIMC) carries a Zacks Rank of 2 and recorded an average positive earnings surprise of 17.30% during the same time frame.

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Luxfer Holdings To Buy ESM Group's Specialty Metals Business

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