Umicore says that it has completed its acquisition of cobalt refining and cathode precursor businesses from chemicals company Freeport Cobalt for US$203 million.

‘It is anticipated that the acquisition will be earnings accretive from 2020 and value accretive from 2021, after completion of the integration process and a reduction of the net working capital resulting from supply chain synergies,’ Umicore said.

The businesses are based in in Kokkola, Finland.

This story uses material from Umicore, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.