Umicore acquires specialty recycling firm

Umicore, a global materials technology and recycling firm based in Brussels, has acquired the business and assets of Wickliffe, Ohio-based CP Chemicals. The Ohio company refines and recycles cobalt- and nickel-containing secondary materials, such as superalloy scrap.

CP Chemical’s services ultimately transform these metals into chemicals for the catalyst and petrochemical refining industries. CP Chemicals also recycles rhenium from superalloy turbine blades used in the aviation industry.

The business will be integrated into Umicore’s Cobalt & Specialty Materials business unit.

Umicore says the acquisition will enable it to establish new cobalt and nickel recycling capabilities in North America that will supply its existing product businesses. The company also says the acquisition fits with its overall strategy to close the loop and strengthen its position in the cobalt and nickel value chain, from recycling to transformation and distribution.

Joe Patrick, president and CEO of CP Chemicals Group, says, “The transition of our business to Umicore creates an exciting opportunity for our company and employees to advance our position in the market of specialty materials recycling. Umicore’s competences and global footprint in the cobalt and nickel specialty chemicals markets provide the ideal collaboration for the growth of our business.”

As part of the expansion strategy of Umicore’s business unit in North America, the company also has announced it has entered into a long-term agreement to recycle cobalt-containing hard metal scrap from Global Tungsten and Powders Corp. (GTP), based in Towanda, Pennsylvania. The cobalt intermediate is generated from GTP’s recycling center, where customers send their secondary raw materials to be converted to tungsten and tungsten carbide powders, cobalt metal powders and tantalum carbide powders.

GTP is involved in the development, production and recycling of tungsten, cobalt and tantalum powder products.

“Teaming with a responsible partner like Umicore ensures GTP’s continued strong commitment to environmental stewardship,” says Dr. Andreas Lackner, GTP president and CEO. “We are excited to enter into this exclusive, long-term agreement and believe that it will position GTP for future growth and better serve the needs of our customers.”

Jan Vliegen, senior vice president of Umicore’s Cobalt & Specialty Materials business unit, says, “We are delighted with the different steps taken to further grow and expand our recycling and refining capabilities in the North American market. Together with the recent acquisition of Palm Commodities, this confirms our ambition to further strengthen our North American presence. It also underlines Umicore’s commitment to contribute to the recycling of scrap in the hard metals industry.”