Revenues were up 1% and recurring EBIT increased by 3% year on year. Strong growth in Automotive Catalysts and Rechargeable Battery Materials more than offset the impact of lower metal prices on the various recycling activities.
Umicore announced today an acceleration of its capacity expansion investments for NMC (nickel manganese cobalt) cathode materials. The acceleration is required to meet a surge in demand for materials used in hybrid and electric vehicles.