Umicore has reached an agreement to acquire Materia's metathesis catalyst IP and business portfolio for a price of U$27 million.

Materia is a US-based producer of metathesis catalysts and thermoset resins. Its metathesis business is reporteldly a technology leader in homogeneous catalysts with technology developed by 2005 Chemistry Nobel Prize laureate Professor Robert H Grubbs and others and it has a wide portfolio of customized metathesis catalysts.

Through this acquisition, Umicore will broaden its range of catalyst technologies, expand its homogeneous catalysts offer and gain access to an extended customer base. The activity will be integrated in Umicore's precious metals chemistry business unit.

‘This acquisition is highly complementary with Umicore's non-automotive catalyst business, which is focused on high end pharma and fine chemical applications,’ said Pascal Reymondet, executive vice president catalysis.

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.