Materials technology group Umicore today announced plans to strengthen its presence in the Indian automotive emissions market by establishing an automotive catalyst operation in India. The investment will involve the development of a greenfield site with a production capacity allowing to equip approximately 1.5 million cars yearly. It is anticipated that construction will be completed by 2010 and that production will begin soon after. Umicore will also expand its current commercial and technical application services for the region.
The Indian market is experiencing increased demand for personal mobility, progress in the development of the road network and strengthening of automotive emissions legislation. The investment will enable Umicore to serve both global and local automotive producers in this growing market and will provide customers with the full range of the company's competencies in the field of catalysis, precious metal chemistry and applied technology. This investment is in line with Umicore's strategy to invest in the key growth markets for automotive emission and will establish the appropriate scale and scope required for the future growth of the market. The new production plant will be capable of supporting up to a third of the estimated Indian automotive market.
Today, Umicore serves the Indian automotive emissions market through its local sales and engineering office in Pune and utilizes its global manufacturing footprint to support the local demand of the automotive manufacturers.
For more information
Investor Relations:
Mr. Tim WEEKES - +32 2 227 73 98 - tim.weekes@umicore.com
Mr. Geoffroy RASKIN - +32 2 227 71 47 - geoffroy.raskin@umicore.com
Media:
Mr. Bart CROLS - +32 2 227 71 29 - +32 476 98 01 21 - bart.crols@umicore.com
Profile
Umicore is a materials technology group. Its activities are centred on four business areas: Advanced Materials, Precious Metals Products and Catalysts, Precious Metals Services and Zinc Specialties. Each business area is divided into market-focused business units.
Umicore focuses on application areas where it knows its expertise in materials science, chemistry and metallurgy can make a real difference, be it in products that are essential to everyday life or those at the cutting edge of new technological developments. Umicore's overriding goal of sustainable value creation is based on this ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.
The Umicore Group has industrial operations on all continents and serves a global customer base; it generated a turnover of € 8.3 billion (€ 1.9 billion excluding metal) in 2007 and currently employs some 15,000 people.