Revenues for the business group were up by 7% driven by higher revenues in automotive catalysts, while revenues in energy materials increased by 16%. While all units were up, growth was most predominant in rechargeable battery materials and cobalt & specialty materials. In Umicore’s performance materials segment, revenues increased by 2%, reflecting a stabilisation in several end-markets. However, no fundamental recovery was been detected in the customer segments have been hardest hit by the economic downturn.
Revenues for Element Six abrasives were higher compared to the third quarter of last year and the business also benefited from an improved product mix.
The company plans to begin a € 100 million expansion of its Hoboken facility targeting a 40% capacity increase with ramp-up expected to start in 2016.
