Campine strengthens its global position in antimony with a strategic investment in Thailand
Campine NV, the Belgian metal recycling and specialty chemicals company listed on Euronext Brussels and member of Flanders Metals Valley, has reached an agreement to acquire a stake in Green Tech Antimony (GTA), a Thai producer of antimony metal with a new smelter in Kanchanaburi, Thailand.
The investment represents a significant step in Campine’s long-term strategy for its Specialty Chemicals business. It secures access to the critical raw material antimony metal while simultaneously establishing an Asian production base for antimony trioxide (ATO). This vertical integration will strengthen the supply security of Campine’s Belgian operations, improve cost competitiveness, and create new opportunities in overseas markets.
Green Tech Antimony operates a modern antimony metal plant that began operations in 2025, with an annual production capacity of 8,000 metric tons. GTA’s Thai partners also own several antimony mines in Southeast Asia, which provide access to antimony ore concentrates. By the end of 2027, the Thai plant will be expanded to include a 4,000-metric-ton ATO production unit based on Campine’s technology. This will create an integrated production platform covering the entire antimony value chain, from ore to finished ATO.
Campine will acquire a minority stake in GTA’s Thai production operations. All ATO production will be marketed through a new trading company to be established in Asia, in which Campine will hold a majority stake and thus have control. The Asian growth markets will be the primary initial sales market.
“This is an important strategic milestone for Campine,” says CEO Wim De Vos. “By combining direct access to antimony metal with our technological expertise and competitive Asian production, we are laying a solid foundation for further profitable growth.”
Campine became the global market leader in ATO in early 2025, following exceptional supply disruptions and sharp price increases. Since late 2025, improved raw material availability has led to a significant correction in antimony prices. This investment strengthens Campine’s position in a more competitive global market.
The transaction is scheduled to close in January 2027.