- Polar Sapphire has been operating its pilot plant at full capacity to deliver almost 10 tonnes of 99.999% (5N) high purity alumina in the last 2 weeks.
- These HPA deliveries fulfill orders received from both new customers and larger orders from existing customers demonstrating increasing in demand
The company is currently in the process of acquiring Polar Sapphire, a Canadian HPA producer. During the March quarter the company signed a binding agreement to acquire Polar Sapphire Limited from private equity interests for C$25.75 million.
Polar currently produces and sells HPA products including powder, pellets, and beads for various market segments. The company produces HPA graded at 99.999
Earlier this year, Pure Alumina signed a binding agreement to purchase Polar Sapphire for approximately $19.18 million. Under the agreement, Pure Alumina will raise $21.38 million in capital to expand Polar’s facility to increase HPA production.
The Company want to increase HPA production to 1,000 tonnes per annum of HPA within 12 months. Eventually it wants to reach an initial HPA target of 5,000 tpa within 3 years.
The quality of Polar Sapphire’s HPA, its low operating costs and its attention to customer service has resulted in the growth of HPA sales and played a significant part in Pure Alumina’s interest in the acquisition.
“The attractive market fundamentals of HPA has caught the attention of a number of companies. Only Pure Alumina, through its proposed acquisition of Polar Sapphire, has access to HPA pilot plant making commercial HPA sales today and low-cost expansion plans that could be delivered within a year,” Managing Director, Martin McFarlane, said.