Skip to main content

Topsoe sells emissions control areas

Published by
Hydrocarbon Engineering,


Haldor Topsoe A/S has announced that it has sold its automotive and stationary DeNOx business areas to Umicore in a transaction valued at DKK 900 million plus an earn-out.

The agreement, which is subject to customary closing conditions and is expected to be finalised around year-end, will include 208 Topsoe employees and all technologies, as well as intellectual property rights, and production and R&D facilities belonging to the two business areas in Denmark, the US, China and Brazil.

Bjerne S. Clausen, President and CEO, Topsoe, said: “The agreement is in line with our strategic objective to be present in niche markets where we aim to be among the top three players. As the automotive and stationary DeNOx markets have evolved, that was no longer a realistic prospect for us, and we have acted on that. It is highly unusual for us to sell parts of our business, but as a top 3 player within automotive catalysts, Umicore is better suited to continue the development and marketing of the world-leading stationary and automotive DeNOx products, we have developed.

“With the financial headroom we achieve with this agreement, we will sharpen our focus on developing sustainable solutions that break new ground, and expanding our core business within catalysts and technology for the petrochemical and refining industries. Based on our strong core competencies, we will continue to support our customers’ businesses with increasingly energy-efficient, clean, and integrated solutions.”

Pascal Reymondet, Executive Vice President Catalysis, Umicore, added: “We are delighted to welcome so many highly skilled employees from Topsoe. They will play an important role in realising our strategic goals in the future. With this agreement, we acquire state-of-the-art emissions control technologies and production facilities. These are an excellent addition to our extensive catalysts portfolio for clean air applications and make our offering to customers even more complete.”

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/21062017/topsoe-sells-emissions-control-areas/

You might also like

 

EIA expects US fossil fuel production to increase through 2022

The US Energy Information Administration expects production of all fossil fuels – crude oil, coal, dry natural gas, and natural gas plant liquids – to increase in 2022, but forecast fossil fuel production will remain lower than the 2019 peak.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Downstream news