Neo Material Technologies Acquires 50 Percent Stake in German Company

Company focuses on recycling of rare metals such as rhenium.

Neo Material Technologies Inc., a Canadian company, has taken a 50 percent stake in Buss & Buss Spezialmetalle GmbH, a German company that specializes in the recycling and recovery of rare metals, often used in the aerospace industry.

Through a well developed commercial network in North America, Europe, Russia, Kazakhstan and other countries, Buss & Buss' main business is the recycling of rhenium from super alloy parts and scrap. It also recovers and upgrades other minor metals such as tantalum.

Rhenium is heavily used in commercial and military aerospace industries. It enhances the high temperature strength and structural properties of super alloys, used primarily in turbine hot section blades and surface coatings, resulting in increased fuel efficiency and lower green house gas emissions.

"The combination of Neo's existing rhenium operation with Buss & Buss will result in the largest capacity and capability for recycling rhenium from super alloys in the world" says Constantine Karayannopoulos, president and CEO of Neo Material. "Together we have the technology and capacity to recycle a wide range of rhenium containing super alloys and produce high purity ammonium perrhenate and rhenium metal. We look forward to working with our new partners at Buss & Buss and continuing to expand our rare metals business."