Benzinga  Sep 22  Comment 
With virtually unanimous support, Shareholders of Globe Specialty Metals, Inc. (NASDAQ: GSM) today approved the proposed combination with Grupo FerroAtlántica to create a leading international silicon and specialty metals producer. The vote at...
Benzinga  Sep 11  Comment 
Globe Specialty Metals, Inc. (NASDAQ: GSM) announced today that it has amended its business combination agreement with Grupo FerroAtlántica ("FerroAtlántica") to, among other things, provide additional governance provisions for the benefit of...
Benzinga  Jul 13  Comment 
Globe Specialty Metals, Inc. (NASDAQ: GSM) and Grupo FerroAtlántica today announced new leadership positions in connection with their planned business combination to create a leading international silicon and specialty metals...


Globe Specialty Metals (NASDAQ:GSM) produces and sells silicon metal and silicon-based alloys. With 156,400 metric tons of silicon metal capacity and 72,800 metric tons of silicon-based alloys capacity, the company currently accounts for 77% of total U.S. capacity, 61% of total North American capacity and 18% of total “Western World” capacity for silicon metal.[1] The expansion and reopening of the company's Niagara Falls facility in New York during FY2010 will increase its silicon metal capacity by 19% to 186,400 metric tons.[1]

The company's initial public offering (IPO) of stock is scheduled for 30 July 2009. It plans to sell 14.0 million shares at between $7.00 and $9.00 per share. Existing investors in the company include Luxor Capital Group (19% before, 13% after), executive chairman Alan Kestenbaum (16% before, 15% after), Plainfield Asset Management LLC (15% before, 10% after) and D.E. Shaw Laminar International, Inc. (11% before, 9% after).[2]

In 2009, Globe Specialty Metals had $345 million in total revenues, up 9% from $317 million in 2008.[3] However, it still made a net loss of $44 million, down 339% from the $18 million net income the company made in 2008.[3] The company attributed this to extraordinary goodwill and intangible asset impairments of its Solsil business segment. As of 31 March 2009, 65% of total revenues came from customers in the United States, 21% from Europe, 10% from South America and 4% from Asia (including Australia).[1]


  1. 1.0 1.1 1.2 Business, 2009 GSM S-1/A Pg 65
  2. Principal and Selling Stockholders, 2009 GSM S-1/A Pg 102
  3. 3.0 3.1 Selected Consolidated Financial Data, 2009 GSM S-1/A Pg 35
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