Umicore enters into exclusive negotiations with Fedrus International for the sale of its Building Products activities
Umicore announced today that it has received a binding offer from Fedrus International, a Belgian-based producer and distributor of building materials, to acquire its Building Products activities which trade under the brand name VMZINC. Based on this binding offer, Umicore has decided to pursue exclusive negotiations with Fedrus International. The proposed transaction is subject to an information and consultation process with employee representatives.
Fedrus International produces and distributes roofing materials, guttering, wall cladding and building envelope accessories. It offers a high level of complementarity with VMZINC in terms of its product offering and geographical presence.
Speaking of the proposed transaction, Umicore CEO Marc Grynberg commented: "We believe that this is an ideal new home for the VMZINC activities. Fedrus International has marked itself out as a strong and dynamic industrial company. Its high quality service offering from architect to installer and to building owner is an excellent fit with VMZINC."
Note to editors
Umicore announced its intention to sell its Building Products activities in early 2015. The operations encompass 7 industrial sites in Europe and sales and representative offices around the world and employ some 950 people. Umicore's strategy is focused primarily on the development of its activities in its growth platforms of clean mobility and recycling.
About VMZINC: For 180 years, VMZINC has specialised in the manufacture and marketing of rolled zinc products for building envelopes. Whether they are used on roofs or facades, VMZINC® products contribute to the harmonious blending of buildings into their surroundings, thanks to a wide choice of systems, textures and colours. With VMZINC®, architects can unleash their creativity for aesthetically pleasing projects that are built to last, without compromise. For more information visit: http://www.vmzinc.com/
Umicore profile
Umicore is a global materials technology and recycling group. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organised in three business groups: Catalysis, Energy & Surface Technologies and Recycling. Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life.
Umicore generates the majority of its revenues and dedicates most of its R&D efforts to clean mobility materials and recycling. Umicore's overriding goal of sustainable value creation is based on an ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.
Umicore's industrial and commercial operations as well as research & development activities are located across the world to best serve its global customer base. The Group generated a turnover of € 11.1 billion (€ 2.7 billion excluding metal) in 2016 and currently employs some 10,100 people.
About Fedrus International
The family business Fedrus International is an important player for specialist roof and façade materials. The group has three businesses: I.R.S-Btech, which promotes and distributes EPDM and other roof waterproofing systems and APOK, which distributes roofing and façade materials. The third business is Laude, which specialises in façade cladding in France.
By constantly striving for quality and with a strong will to keep innovating, the group has built up unique experience and know-how, enabling the three companies to become market leaders in their field. The family business achieves a turnover of about € 230 million and employs 475 people across 40 sites. www.fedrusinternational.com
For more information
Investor Relations
Evelien Goovaerts +32 2 227 78 38 evelien.goovaerts@umicore.com
Eva Behaeghe +32 2 227 70 68 eva.behaeghe@umicore.com
Media Relations
Tim Weekes +32 2 227 73 98 tim.weekes@umicore.com
