Page 168 - CW E-Magazine (19-11-2024)

News from Abroad

BUSINESS RESTRUCTURING
Umicore stops work on battery materials plant

in Canada; moves to cuts costs in Belgium, China

and Denmark operations

Belgian minerals and metals fi rm, “The company will also adjust the
Umicore, will pause construction of setup of its R&D activities for greater
a battery materials plant in Loyalist, effi ciency and customer focus and
Ontario, Canada. prioritise R&D projects which align
best with its core competencies and
Under its new CEO Mr. Bart Sap, strengths,” the company stated.
Umicore has been undertaking a stra-
tegic review of its battery materials Umicore plans to consolidate
business unit, including the project R&D efforts in its automotive cata-
in Canada. As part of the strategy, lysts business unit by transferring
the company is looking to maximise on its review process include one to heavy-duty diesel R&D work from its
capacity utilisation of existing plants reduce its companywide workforce current site in Hørsholm, Denmark,
prior to any further expansion. by about 260 people. to its Hanau, Germany, location. It
will discontinue the R&D activities
Umicore said its offi ce in Loyalist Those moves will take place predo- in Hørsholm.
will remain open so it can retain a solid minantly in a production plant in
core team on-site. Jiangmen, China, and within what Umi- “Umicore is navigating a challeng-
core calls “group corporate functions.” ing environment where we feel the
Umicore, which makes catalytic impact of the complex transitioning
converters as well as providing battery In the second category of job cuts, of the automotive industry towards
materials for automakers, said it had about 100 of those positions are fo- electric mobility. Serving our North
not drawn on incentives provided by cused on its home country of Belgium. American customers out of Korea is
the Canadian government, and that, There, Umicore said it has begun con- now clearly the most effective use of
if the construction resumes, it would sultations with trade unions and works our assets,” said Mr. Bart Sap, CEO
access them under same conditions, councils representatives. of Umicore.
including employment commitments.
Solenis acquires BASF’s fl occulants
The Belgian fi rm said its decision
was made by matching existing business for mining applications
demand and offtake agreements for
cathode active materials (CAM) with American speciality chemicals Alcotac, Jetwet, Aerowet and Alcotech.
its current capacity. fi rm, Solenis, has acquired BASF’s The acquisition includes BASF’s custo-
fl occulants business for mining appli- mers, intellectual property and team of
“The long-term supply agreement cations. The acquisition will help experts.
with (Japan-based battery producer) Solenis to offer an expanded range of
AESC for high-nickel CAM for the products and services, for its mining “This acquisition aligns with our
North American market will be served and mineral processing customers. strategic vision to be the leading pro-
from Umicore’s plant in Cheonan, vider of speciality chemicals for the
South Korea,” Umicore said. The new product portfolio includes mining industry. By combining our
fl occulants and other products used for expertise and resources, we can deliver
Additional cost saving measures solid-liquid separation and material even greater value to our customers,”
Along with its delay in Canada, handling in mining applications under commented Mr. John Panichella, CEO,
Umicore said other actions taken based trademarks Magnafl oc, Rheomax, Alclar, Solenis.

168 Chemical Weekly November 19, 2024

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