Lower metal prices impact Umicore revenues

Belgium – Global materials technology and recycling group Umicore has announced a 10% increase in revenues for this year’€™s third quarter when compared to the same period in 2014, with strong underlying growth in catalysis and energy & surface technologies ‘€˜more than offsetting the impact of lower metal prices on the recycling activities’€™.

Revenues at the Belgium-based company were also affected by ‘the extended shutdown in precious metals refining’. The Euro 100 million programme to increase capacity by 40% at Umicore’s refining and recycling plant in Hoboken is ‘on track’, according to this latest group statement.

Late last month, Umicore also confirmed plans to invest Euro 25 million in its site at Olen in Belgium, focusing on an upgrade of the cobalt refining and recycling plant which would boost its ability to recycle cobalt and nickel-bearing residues.