Acquisition

Vesuvius plc is pleased to confirm that the acquisition of the Molten Metal Systems (“MMS”) business from Morgan Advanced Materials Plc (“Morgan”) by the Vesuvius group (the “Group”) completed on 12 November 2025, as announced on 22 August this year.

The acquisition increases the Group’s and the Foundry business’ exposure to the faster-growing non-ferrous market segment and to India, in line with our strategic growth ambitions. The business is highly complementary to our existing business and will take the Foundry division’s share of revenue from non-ferrous sales from 21% (2024) to c.27% on a pro forma basis. It will also increase our manufacturing footprint and sales exposure to the attractive and fast-growing Indian market, a core growth market for the Group. We expect to realise significant cost synergies, which will further drive value for the Group and will be accretive to Group return-on-sales and earnings per share from the first year of ownership.

Consideration comprises newly issued shares in the Group’s listed Indian subsidiary, Foseco India Limited (FIL), for the 75% holding of Morgan in Morganite Crucible (India) Limited (MCIL), plus £20m of cash for the remaining worldwide assets of MMS. Accordingly, FIL now holds 75% of MCIL and Vesuvius owns 64% of FIL, while Morgan owns 15% of FIL.

The impact on pro-forma Vesuvius leverage is neutral, given EBITDA acquired, synergies and the split between cash and issuance of new equity by Foseco India Limited.

About MMS

MMS supplies high-tech crucibles globally, principally in the non-ferrous market segment, with c.50% of revenue derived from aluminium producers and the majority of the remainder from copper alloys and precious metals. MMS had turnover of c.£42m in 2024 (of which c.20% was in India) and EBITDA of c.£8m.

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

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