Umicore announced today an investment programme of € 300 million between 2017 and 2019 to further increase its production of NMC (nickel-manganese-cobalt) cathode materials for lithium-ion rechargeable batteries. NMC is the preferred cathode material technology for rechargeable batteries used in vehicle electrification and global demand is increasing fast. The demand for Umicore's NMC materials is outpacing the market by a significant margin and the increased capacity will enable Umicore to cater for a surge in customer orders. The investment will also enable Umicore to meet growing demand for its proprietary high-energy LCO (lithium cobalt oxide) cathode materials used in high-end consumer electronics.
This programme entails further investments in Cheonan (South Korea) and Jiangmen (China) with the first production lines expected to be commissioned in late 2018. Combined with the € 160 million investment announced last year, this will result in a more than six-fold increase in total capacity by 2020 compared to the levels of 2015.
Umicore's NMC cathode materials are key ingredients in battery technology to extend the driving range of electrified vehicles and to make them more affordable. Umicore's twenty years of accumulated expertise in battery materials technology, its early qualification for transportation applications, extensive IP portfolio and unrivalled ability to scale up have made it a leader in this domain.
Marc Grynberg, CEO of Umicore, commented: "The scale and scope of the investments underscore Umicore's leadership in clean mobility materials and our commitment to support the rapid growth of our customers. It is rewarding that our strategic choices are now starting to bear fruit and we are excited about the prospects for our business."
Marc Grynberg will host a conference call today at 14:00 CET to address your questions. The conference call can be accessed via the following link : http://edge.media-server.com/m/p/ganhetru or using following dial-in number:
| Country | Local number |
| Belgium | +32(0)2 620 0138 |
| Germany | +49(0)89 2030 31217 |
| France | +33(0)1 76 77 22 26 |
| Netherlands | +31(0)20 716 8257 |
| UK | +44(0)20 3427 1912 |
| USA | +1646 254 3360 |
| International | +44 20 3427 1912 |
Dial in 5-10 minutes prior to the start time using the Conference ID 9212227. Please state your first name, last name and company name before entering the conference.
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
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.