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Examples
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But it has run into opposition from the Belgian-based Nyrstar, formed in 2007 through the merger of Zinifex's smelting assets and the Belgian company Umicore, which is seeking to secure long-term supplies of lead and zinc concentrate for its zinc smelter at Risdon,
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» GE and Umicore, which is headquartered in Brussels, Belgium, announced on March 23 that they have successfully completed a technology transfer and signed an agreement to commercialize a proprietary Hydrocarbon Selective Lean NOx Catalyst (HC-LNC) aftertreatment designed to reduce and control diesel engine NOx (nitrogen oxide) emissions for various transportation and stationary applications.
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With an enterprise value of €5 billion, Umicore is bigger than Süd-Chemie, but it has a much more Europe-focused business and has historically struggled with profitability.
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First, Umicore could come into the deal frame, though not just yet.
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There's no dearth of acquirers for a specialty-chemical company like Switzerland-based Clariant, or other vulnerable companies such as Belgium's Umicore SA and France's Rhodia SA.
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Solvay was rumored to have approached Danish food-ingredients and enzymes company Danisco A/S before losing out to U.S. chemicals group E.I. DuPont de Nemours & Co. , and was expected to consider acquiring European chemicals specialists such as Umicore SA, Symrise AG and Arkema .
Solvay to Buy Rhodia for $4.84 Billion Elena Berton 2011
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Umicore shares dropped 2.4% as the Belgian specialty-materials firm said its first-half core profit dropped 77%.
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Umicore is expected to announce today what it plans to do with its share of the proceeds.
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The newspaper also reported that Belgium's Umicore may be a target for Dow Chemical.
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Zinifex will put up 60% of the assets and Umicore 40% to create an entity incorporated in Belgium and headquartered in London
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