Umicore announced today that it has agreed to sell its European Technical Materials business to SAXONIA Edelmetalle GmbH, a long-established German refiner and manufacturer of precious metal chemical compounds, semi-finished products and contact parts.
The agreement concerns the Technical Materials activities in Germany and Italy, which manufacture contact materials and brazing alloys for technical applications. The activities generated a combined turnover of EUR 163 million in 2016. Closing of the transaction is expected in the first quarter of 2018.
Umicore CEO Marc Grynberg commented: "We believe that SAXONIA is an ideal home for our European Technical Materials business. SAXONIA's advanced industrial operations will provide a unique stepping stone to the entire organization while offering ample opportunities for further growth."
Note to editors
In line with its strategy to focus primarily on developing activities in its growth platforms of clean mobility and recycling, Umicore announced earlier this year its intention to investigate strategic options, including a possible sale of all or part of its Technical Materials business unit. Umicore will continue to assess strategic options for its Technical Materials activities in other regions.
Technical Materials in Europe employs approximately 300 people and has industrial sites in Hanau, Germany (Umicore Technical Materials AG & Co. KG) and Vicenza, Italy (Italbras S.p.A.).
Umicore profile
Umicore is a global materials technology and recycling group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organised in three business groups: Catalysis, Energy & Surface Technologies and Recycling. Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life.
Umicore generates the majority of its revenues and dedicates most of its R&D efforts to clean mobility materials and recycling. Umicore's overriding goal of sustainable value creation is based on an ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.
Umicore's industrial and commercial operations as well as R&D activities are located across the world to best serve its global customer base. The Group generated a turnover of € 6.5 billion (€ 1.5 billion excluding metal) in the first half of 2017 and currently employs 10,400 people.
About SAXONIA Edelmetalle
SAXONIA Edelmetalle GmbH (Halsbrücke) is continuing the tradition of mining and processing precious metals which has existed in the Freiberg region since the beginning of the 17th century. Today the company is an established and reliable partner to industrial users in the core areas of precious metal refining, precious metal chemical compounds, semi-finished products, platinum equipments and contact parts.
Since 2010, WIELAND Edelmetalle GmbH, Pforzheim has been part of the SAXONIA Group. Today WIELAND Edelmetalle is a leading mid-sized company with more than 150 employees, specialising in products and services related to precious metals refining and technology, including semi-finished products and brazing alloys.
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