Dive Brief:
- Umicore, a recycling company based in Brussels, announced its purchase of CP Chemicals, a cobalt and nickel recycler and refinery.
- The Wickliffe, OH-based CP Chemicals facility converts metals into chemicals for industries involved in the catalyst and petrochemical refining sectors. The firm also recycles the rhenium found in superalloy turbine blades used in the aviation industry.
- CP Chemicals will be streamlined into Umicore’s Cobalt & Specialty Materials business department.
Dive Insight:
Umicore said the acquisition marks the beginning of a new segment of cobalt and nickel recycling in North America for the firm that will enhance its existing product businesses. Umicore anticipates the purchase of CP Chemicals will strengthen its position in specialty materials recycling.
Umicore also announced that it had inked a long-term agreement with Towanda, PA-based Global Tungsten and Powders Corp. (GTP) as part of its expansion strategy into North America. Umicore will recycle metal scrap materials that contain cobalt from the GTP plant.