Umicore to acquire Materia's metathesis catalyst business
Umicore announced today that it has reached an agreement to acquire Materia's metathesis catalyst IP and business portfolio for a price of USD 27 million.
Materia is a leading US-based producer of metathesis catalysts and thermoset resins. Its metathesis business is a technology leader in homogeneous catalysts with unique proprietary technology developed by 2005 Chemistry Nobel Prize laureate Prof. Robert H. Grubbs and others and a broad portfolio of customized metathesis catalysts.
Through this acquisition, Umicore will broaden its range of catalyst technologies, expand its homogeneous catalysts offer and gain access to an extended customer base. The combined metathesis portfolios will provide Umicore's customers full access to proprietary, patent-protected cutting-edge technology. The activity will be integrated in Umicore's Precious Metals Chemistry business unit.
"This acquisition is highly complementary with Umicore's non-automotive catalyst business, which is focused on high end pharma and fine chemical applications", says Pascal Reymondet, Executive Vice President Catalysis. "It enables us to support our customers with a broader product, service and IP portfolio and it will contribute to establishing Umicore as one of the recognized leaders in homogeneous catalysts".
The transaction is subject to closing conditions and is expected to be finalized in the first quarter of 2018.