Umicore completes acquisition Freeport’s processing assets in Finland
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Umicore completes acquisition of Freeport's processing assets in Finland

7:15 AM, 3rd December 2019
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BRUSSELS, BELGIUM: Umicore NV has completed the acquisition of the cobalt refining and cathode precursor activities in Kokkola, Finland, from Freeport Cobalt for an amount of $ 203 million.

The company said that all regulatory clearances in relation to the transaction have been obtained.

It is anticipated that the acquisition will be earnings accretive from 2020 and value accretive from 2021, after completion of the integration process and a reduction of the net working capital resulting from supply chain synergies.

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