Umicore is to acquire 100% of Eurotungstene, a company within the Eramet Group specialised in developing, manufacturing and marketing metal bonding powders, tungsten powders, and tungsten carbide powders used in diamond tools and hard metal applications.
Based in Grenoble, France, Eurotungstene generated a turnover of almost € 42 million and employs 127 people.
Eurotungstene will be integrated into Umicore’s Cobalt & Specialty Materials business unit, the company says. ‘It will allow Umicore to broaden its product portfolio to better serve the needs of its diamond tool customers by relying on Eurotungstene's in-depth technical know-how, operational experience and diversified product portfolio,’ Umicore added in a press release. ‘It will also allow Umicore to offer tungsten-based materials to hard metal customers.’
‘We are very pleased with this acquisition which is an excellent strategic fit for the tool materials activity of our Cobalt & Specialty Materials business unit,’ said Benjamin Schmoker, business director of Umicore.
The closing of this transaction, which remains subject to customary closing conditions, is anticipated to occur in the first half of 2017.
This story is reprinted from material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.