In order to further support the growth of its precious metals recycling business, Umicore has reached an agreement with the Demet group of companies to acquire certain assets located in Alzenau, Germany. The acquisition is expected to be effective Jan. 1.
The assets being acquired involve the automotive catalyst recycling business of the Demet group, and include integrated decanning and sampling line for ceramic catalysts, as well as a shredder for metallic catalysts.
Umicore intends to continue to operate the system for collecting automotive catalysts with Demet's franchise partners under the Demet brand for the foreseeable future. The transaction does not involve any of the Demet group's assets that are related to its electronic scrap and industrial residues businesses.
This acquisition fits the strategy of Umicore Precious Metals Services to offer a high standard, closed-loop solution for automotive catalysts to the automobile industry, as well as to catalyst producers and collectors. The European spent automotive catalyst market is expected to grow significantly in the next five years.
The newly acquired business is to be known as Umicore Autocatalyst Recycling GmbH.
Umicore is an international metals and materials group. Its activities are centered on five business areas : Precious Metals Services, Precious Metals Products and Catalysts, Advanced Materials, Zinc and Copper.