Umicore to acquire Haldor Topsoe's heavy duty diesel and stationary catalyst businesses
20 Giugno 2017 - 8:30AM
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.
For more information Investor Relations
Evelien
Goovaerts
+32 2 227 78
38
evelien.goovaerts@umicore.com
Eva
Behaeghe
+32 474 49 23
50 eva.behaeghe@umicore.com
Media Relations
Tim
Weekes
+32 2 227 73
98
tim.weekes@umicore.com
Umicore profile
Umicore is a global materials technology and
recycling group. It focuses on application areas where its
expertise in materials science, chemistry and metallurgy makes a
real difference. Its activities are organised in three business
groups: Catalysis, Energy & Surface Technologies and Recycling.
Each business group is divided into market-focused business units
offering materials and solutions that are at the cutting edge of
new technological developments and essential to everyday life.
Umicore generates the majority of its revenues and
dedicates most of its R&D efforts to clean mobility materials
and recycling. Umicore's overriding goal of sustainable value
creation is based on an ambition to develop, produce and recycle
materials in a way that fulfils its mission: materials for a better
life.
Umicore's industrial and commercial operations as
well as research & development activities are located across
the world to best serve its global customer base. The Group
generated a turnover of € 11.1 billion
(€ 2.7 billion excluding metal) in 2016 and currently
employs some 10,100 people.
This
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Umicore via Globenewswire
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