Topsoe sells its automotive and stationary DeNOx business areas to Umicore. The agreement includes all employees and all technologies, intellectual property rights and production and R&D facilities belonging to the two business areas in Denmark, the United States, China and Brazil. The transaction is subject to customary closing conditions and is expected to be finalized around year’s end.
“The agreement is in line with our strategic objective to be present in niche markets where we aim to be among the top three players. As the automotive and stationary DeNOx markets have evolved, that was no longer a realistic prospect for us, and we have acted on that,” says Bjerne S. Clausen, president and CEO, Topsoe. “It is highly unusual for us to sell parts of our business, but as a top three player within automotive catalysts, Umicore is better suited to continue the development and marketing of the world-leading stationary and automotive DeNOx products we have developed.”
The contract value is DKK 900 million plus an earn-out. The agreement will entail an impairment loss in Topsoe’s financial statements for the current financial year of approximately DKK 400 million before tax, but will have a positive cash effect from the sale proceeds.
For more information, visit: www.topsoe.com