20 June 2017

Umicore to acquire Haldor Topsoe’s heavy duty diesel and stationary catalyst businesses

Umicore announced today that is has reached an agreement to acquire the heavy duty diesel and stationary catalyst businesses of Haldor Topsoe for an enterprise value of DKK 900 million (approx. EUR 120 million) plus an earn-out.

Haldor Topsoe is a leading producer of high performance catalysts for a wide range of industries. Its automotive catalysts are used in emission systems for on-road and non-road heavy-duty diesel applications and ensure compliance with the most stringent emission norms, including Euro VI. Its stationary business offers catalytic solutions to treat NOx emissions from industrial sources such as gas-fired power plants as well as marine applications. The businesses currently employ some 280 people, serve customers from production plants in Frederikssund (Denmark), Houston (Texas), Tianjin (China) and Joinville (Brazil) and has R&D facilities in Lyngby (Denmark). 

Through this acquisition Umicore will gain access to an extended customer base, particularly in Europe and China, a broader product portfolio for heavy-duty diesel applications, as well as additional IP and technology in the field of emission control catalysis. It also provides Umicore with an entry into the stationary emission control segment. The combined businesses will continue to focus on innovation to stay at the forefront of developing sustainable technologies and products for its customers.

Pascal Reymondet, Executive Vice-President Catalysis, said: “The business is highly complementary with Umicore, particularly through its focus on cutting edge technology, operational excellence and sustainability. We are looking forward to welcoming our new colleagues to Umicore. The combination of expertise, talent and technology will enable us to further support our customers with an even broader product and service offering.”

It is anticipated that the acquisition will be earnings accretive from 2018.

The transaction is subject to customary closing conditions, including regulatory filings, and is expected to be finalized around year-end. Cleary, Gottlieb, Steen & Hamilton and J.P. Morgan Limited acted as Umicore’s advisers for the transaction.


Dutch
French

Tag: Automotive

Tweets

  • @UmicoreGroup  Aug 9
    Umicore is officially part of the Top 100 Best Business Companies to work for in #Korea! The Korean Minister of Emp… https://t.co/0a2kdTnbxO
  • @UmicoreGroup  Aug 8
    Our CEO Marc Grynberg at the @rtlinfo studio in an interview on #recycling of #smartphones. Missed it? Watch it her… https://t.co/JM7VYV2M34
  • @UmicoreGroup  Aug 7
    Well done @FormulaBelgium, with the first prize at #FS2018 for the design of the Umicore Pulse! Find out all about… https://t.co/xLa7LKMBFG
  • @UmicoreGroup  Jul 31
    We've unveiled our half year results. Find out all about them on our website: https://t.co/olVxqjqpD6 https://t.co/QcMNoi6VRR
  • @UmicoreGroup  Jul 27
    We're having a blast at @SfinksMixed, where we've had over 200 people on our bikes already! Come visit us and… https://t.co/cH6Di5gO0N
  • @UmicoreGroup  Jul 27
    Join us on the 31st of July when we announce our #halfyearresults for 2018 at 7:30 AM (CEST). Check them out at… https://t.co/dSHyDhK2qo
  • @UmicoreGroup  Jul 26
    We are all saddened by the passing of Rudi Thomaes, who served as an outstanding member of our Board of Directors f… https://t.co/a1drVVPKYn
  • @UmicoreGroup  Jul 25
    Proud to power the @FormulaBelgium team, which had the honour of meeting the Belgian king Filip in Brussels on the… https://t.co/lfTOPLNuLe
  • @UmicoreGroup  Jul 25
    Proud to power the @FormulaBelgium team, which had the honour of meeting the Belgian king Filip in Brussels on the… https://t.co/gEBPjX82DR
  • @UmicoreGroup  Jul 20
    Come and #bikewithUmicore at @Sfinksmixed in Boechout from July 26 until July 29 and you might win a brand new powe… https://t.co/PqCD0Y2Hd2