Umicore invests 300 million euros in clean mobility materials

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The Belgian technology group Umicore announced today a 300-million-euro investment programme between 2017 and 2019. “The scale and scope of the investments underscore Umicore’s leadership in clean mobility materials,” says Marc Grynberg, CEO of Umicore.

Umicore is investing 300 million euros to further increase its production of NMC (nickel-manganese-cobalt) cathode materials for lithium-ion rechargeable batteries. NMC is the preferred cathode material technology for rechargeable batteries used in vehicle electrification to extend the driving range of electrified vehicles and make them more affordable.

“Strategic choices are bearing fruit”

“The scale and scope of the investments underscore Umicore’s leadership in clean mobility materials and our commitment to support the rapid growth of our customers,” says Marc Grynberg, the Belgian CEO of Umicore. “It is rewarding that our strategic choices are now starting to bear fruit and we are excited about the prospects for our business.”

Soaring global demand

Global demand for NMC is growing fast. Better still, the demand for Umicore’s NMC materials is surpassing the market by a significant margin. The planned increased capacity will therefore enable Umicore to cater for a surge in customer orders.

The investment will also enable Umicore to meet growing demand for its proprietary high-energy LCO (lithium cobalt oxide) cathode materials used in high-end consumer electronics.

More than six-fold increase in capacity

This programme entails further investments in Cheonan (South Korea) and Jiangmen (China). Commissioning of the first production lines is planned for late 2018.

Combined with the 160-million-euro investment announced last year, this will result in a more than six-fold increase in total capacity by 2020, compared to 2015 levels.

Belgian specialist in recycling materials

Umicore is a global player in materials technology. Despite its strong international reach, Umicore remains every inch a Belgian company, with five sites across the country: Hoboken, Bruges, Olen, Vilvoorde and the worldwide headquarters of Umicore in Brussels.

Read how “Umicore is an active innovator in the future of automotive” in the article Umicore wins in automotive published on BeAutomotive.be.

The Group generated a turnover of 11.1 billion euros (2.7 billion euros excluding metal) in 2016. Umicore currently employs some 10,100 people.

This innovator is looking for you

Umicore was voted Top Employer in Belgium in 2017 for the twelfth time.

“It demonstrates the importance that we at Umicore place on the engagement of our people,” says Geert Walschap, HR Director Belgium and Northern Europe. “And it is these engaged employees who deliver innovation and satisfied customers. They are essential to the further growth of Umicore and the realisation of the Horizon 2020 objectives!”

 

Find a career that suits you at Umicore.