- American Pacific Borates (ABR) signs a non-binding letter of interest (LOI) with Borman Specialty Materials
- The pair plan to supply boric acid and other boron materials to manufacture products for the semiconductor, aerospace, military and automotive markets
- This LOI follows one signed with Compass Minerals America to sell sulphate of potash from ABR’s Fort Cady facility in California
- CEO, Henri Tausch, says the partnerships accelerate its goal of producing boron specialty advanced materials from its small-scale boron facility in 2022
- Company shares are up by 3.52 per cent to trade at $1.47
American Pacific Borates (ABR) has signed a non-binding letter of interest (LOI) with global producer Borman Specialty Materials.
The agreement will see the companies work towards a binding agreement for the supply of boric acid and other boron specialty materials. These will be used to manufacture products for global markets such as the semiconductor, life sciences, aerospace, military and automotive markets.
This LOI supports an LOI signed with Compass Minerals America in May for a partnership to sell sulphate of potash from ABR’s Fort Cady integrated boron facility in California.
ABR said the partnerships with both Borman and Compass demonstrate a visible pathway to support the production of boron advanced materials from its boron facility in the second half of 2022.
Further, the company has a positive outlook on its position as a global boron producer as there’s limited supply in the North American market which has seen boron prices noticeably increase.
ABR CEO, Henri Tausch, said he looks forward to working with Borman Specialty Materials.
“We look forward to working with Borman Specialty Materials who have over 80 years operating experience in global markets,” he said.
“With partners now engaged for our planned SOP and Borates products, and with increasing favourable market conditions, the company is fast moving towards initial production of boron specialty advanced materials from its small-scale boron facility in CY2022.”
Company shares were up by 3.52 per cent to trade at $1.47 at 11:01 am AEST.