Jul 2 2008
Umicore has reached an agreement to acquire Anandeya Zinc Oxides Private Limited, located in Goa, India. The company will be fully integrated into Umicore’s Zinc Chemicals business and will support the business unit’s strategy of growing its position as one of the worldwide leaders in the manufacturing of high-purity, specialty zinc compounds.
The acquisition and the intended additional investment amount to some USD 10 million.
The intended investment involves expanding Anandeya’s current zinc oxides product range to different zinc chemicals in order to provide broader support for the growth of Umicore’s global customers in the expanding markets of India and the Middle East. The acquired site has spare land for the expansion of zinc chemicals production or for the incorporation of other industrial activities. The experience gained in the transaction will also benefit Umicore in its pursuit of future growth possibilities in India.
The transaction is subject to certain standard closing conditions and is expected to be completed by early August.
Umicore Zinc Chemicals is a world leader in the manufacturing of zinc compounds used in a wide range of industries. It is also a leading recycler of secondary, zinc-containing raw materials. It operates plants in Europe, China, South East Asia and Australia and transforms over 180,000 tonnes of zinc into a variety of compounds.