30 November 2017

Regulated Information

Umicore to sell its European Technical Materials business to SAXONIA Edelmetalle

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.).

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.

 


Dutch
French
We use cookies on our website. To learn more about cookies, how we use them, and how to change your cookie settings, please read our Terms of Use and Privacy and Cookie Policy. By accepting, you consent to the Terms and the Policy.

ALWAYS ON
Necessary Cookies
Necessary Cookies are Cookies that are required for the Website to operate as intended by Umicore. Necessary Cookies do not identify you as an individual and, if you do not accept them, then some features of the Website may not function properly.
ON
OFF
Analytical Cookies
Analytical Cookies are Cookies that help Umicore improve the Website by collecting User Data. Analytical Cookies do not identify you as an individual and all User Data that is collected by Analytical Cookies is aggregated and anonymous.