Umicore acquires CP Chemicals business, assets in Wickliffe, Ohio, US

Umicore acquires assets of CP Chemicals in Ohio, US

9:38 AM, 27th August 2014
Umicore acquires CP Chemicals business, assets in Wickliffe, Ohio, US

OHIO, US: Umicore announced the acquisition of the business and assets of CP Chemicals in Wickliffe, Ohio, US. CP Chemicals is a refiner and recycler of cobalt and nickel containing secondary materials such as superalloy scrap and transforms these into chemicals for the catalyst and petrochemical refining industries. CP Chemicals also recycles rhenium from superalloy turbine blades used in the aviation industry. The business, which employs 40 people, will be integrated in Umicore’s Cobalt & Specialty Materials business unit.

The acquisition enables Umicore to establish new cobalt and nickel recycling capabilities in North America which will supply its existing product businesses. This fits with Umicore’s overall strategy to close the loop and with the business unit’s strategy to strengthen its position along the cobalt and nickel value chain, from recycling to transformation and distribution.

“The transition of our business to Umicore creates an exciting opportunity for our company and employees to advance our position in the market of specialty materials recycling. Umicore’s competences and global footprint in the cobalt and nickel specialty chemicals markets provide the ideal collaboration for the growth of our business,” said Joe Patrick, President and CEO, CP Chemicals Group.

 

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