The multinational company Erasteel, the global market leader in high speed steels and a subsidiary of France's Erasmet group, has signed a purchase agreement with Basque company Metallied Powder Solutions for the purchase of 100% of its capital over the next 2 years.

Metallied, formed in 2007 as a spin off of the technology centre CEIT IK4 with support from the capital risk funds Spri and Seed Gipuzkoa, is dedicated to the production of specialized metal powders for use in the development of new products in various sectors, such as machine tools and automation.

The Basque technology based company, whose main strategy has been to specialize in niches with high added value, stands out for its high quality and ability to adapt its services in order to provide innovative solutions that meet customer requirements. Soon after its formation, the company was awarded the Entrepreneur XXI prize by La Caixa and the ministry of Industry in a regional competition.

(Sourced from www.europa.eu)