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Wednesday, 22nd August 2007 (4356 views)

Umicore, a specialty metals group, has announced it is to build a new plant in Americana, Brazil.

In total, Umicore intends to pump €40 million (£27.2 million) into the project which will be a base for its functions currently located at the company's Guarulhos site.

Umicore is focussed on four areas of business: advanced materials, precious metals products and catalysts, precious metals services and zinc specialties.

"Umicore's South American operations have been growing strongly in recent years. These investments underscore the company's commitment to developing a platform for the further growth of its activities in the region," the company noted in a statement.

Earlier this year, Umicore decided to move its Catalyst Technologies department in Buenos Aires to a new plant in a move to be completed by 2008.

Umicore claims to be the world's largest recycler of precious metals such as gold, which can then be used as car components.

 

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