Umicore to acquire Materia’s Metathesis catalyst business
Umicore announced today that it has reached an agreement to acquire Materia's metathesis catalyst business for an enterprise value of USD million 27.
Materia is a leader in metathesis with its unique proprietary technology developed by 2005 Chemistry Nobel Prize laureate Prof. Robert H. Grubbs, its broad portfolio of customized metathesis catalysts and its strong business position. Metathesis is a unique chemical technology that shortens the synthesis of complex pharmaceuticals, specialty chemicals and polymers and is increasingly used in the chemical industry.
Through this acquisition, Umicore will broaden its range of catalyst technologies, expand its homogeneous catalysts offer and gain access to an extended customer base. With the combined metathesis portfolios, Umicore will be able to provide its customers full access to proprietary, patent-protected cutting-edge technology. The combined businesses will continue to focus on innovation to allow customers to develop more efficient syntheses, produce more competitively and sustainably and keep or extend their leading positions in their own markets.
“The acquisition of Materia’s catalyst business is highly complementary with Umicore's Catalysis activities”, says Pascal Reymondet, Executive Vice President Catalysis, “and enables us to support our customers with a broader portfolio of homogeneous catalysts and service offering. To the technological expertise of Materia, we add the global, large-scale production capabilities and commitment of a global organization like Umicore, making the access, the industrial use and the success of this technology sustainable in the long term.”
The transaction is subject to closing conditions and is expected to be finalized in the first quarter of 2018.