20 June 2017
DETAILS
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.
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.
Pascal Reymondet,
Executive Vice-President Catalysis
“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.”
WWW.CHEMWINFO.COM BY KHUN PHICHAI
