Belgium – Global materials technology and recycling group Umicore has acquired the business and assets of CP Chemicals – a US-based refiner and recycler of cobalt- and nickel-containing secondary materials such as superalloy scrap which it transforms into chemicals for the catalyst and petrochemical refining industries. CP Chemicals also recycles rhenium from superalloy turbine blades used in the aviation industry.
The business, which employs 40 people, will be integrated into Umicore’s Cobalt & Specialty Materials unit. Through this acquisition, Umicore will be able to ‘establish new cobalt and nickel recycling capabilities in North America which will supply its existing product businesses’, it explains. ‘This fits with Umicore’s overall strategy to close the loop and with the business unit’s strategy to strengthen its position along the cobalt and nickel value chain, from recycling to transformation and distribution.’
As part of the expansion strategy of the business unit in North America, Umicore has entered into a long-term agreement to recycle cobalt-containing hard metals scrap from Global Tungsten and Powders Corp. (GTP) and supply cobalt fine powders. GTP is a leading player in the development, production and recycling of tungsten, cobalt and tantalum powder products.
According to Jan Vliegen, senior vice-president of Umicore’s Cobalt & Specialty Materials unit, these latest developments confirm his group’s commitment to strengthening its North American presence and to the recycling of scrap in the hard metals industry.
For more information, visit: www.umicore.com
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