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Topsoe sells emissions control areas

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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.”

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