Luther advises Umicore on sale of its European Technical Materials business to Saxonia Edelmetalle

Materials technology and recycling group Umicore has sold its European technical materials business to Saxonia Edelmetalle GmbH, a traditional German refiner and manufacturer of chemical precious metal compounds, semi-finished products and contact parts.

Technical Materials produces contact materials and brazing alloys for technical applications. In 2016, the division generated total sales of 163 million euros. Technical Materials employs around 300 people in Europe and has sites in Hanau (Umicore Technical Materials AG & Co. KG) and Vicenza/Italy (Italbras S. p. A.). The transaction is expected to close in the first quarter of 2018.

About Umicore

Umicore is a global, listed materials technology and recycling group headquartered in Brussels. In the first half of 2017, the Group generated sales of 6.5 billion euros. Umicore employs approximately 10,400 people.

About Saxonia Precious Metals

Saxonia Edelmetalle GmbH (Halsbrucke / Saxony) continues the tradition of extracting and processing precious metals that has existed in the Freiberg region since the beginning of the 17th century. The company produces for industrial users in the fields of precious metal refining, precious metal chemicals, semi-finished products, platinum equipment and contact parts.

For Umicore

Luther, Mergers & Acquisitions: Stephan Gittermann (Lead Partner) and Stefan Jokel (both Frankfurt am Main)

Luther, Mergers & Acquisitions / Italian Desk: Dr. Eckart Petzold (Partner, Dusseldorf)

Luther, Banking and Capital Markets Law: Christoph Schauenburg, LL. M. (Partner, Frankfurt a. M.)

Luther, Labour Law: Dr. Thomas Thees (Partner, Frankfurt a. M.)