Umicore Enters Jewellery Materials Business in North America
Umicore has reached an agreement to acquire Imperial Smelting & Refining Co. of Canada Ltd., located in Toronto, Canada. Imperial is the leading supplier of precious metal products and recycling services for the jewellery industry in Canada, and also supplies the US market.
Imperial is a family business, which was founded in 1914, and that employs approximately 70 people. In 2006 it generated revenues equivalent to 5.8 million, excluding metal value. Imperial will continue to trade under the same name and will be integrated in Umicore's Jewellery and Electroplating business unit. This
business unit has its headquarters in Europe with operations in Germany, the Netherlands and Austria. It is also active in Asia with a plant in Thailand. This acquisition allows Umicore to expand its jewellery materials business into North America.
"The acquisition of Imperial will provide our group with a market entry into the North American jewellery industry. In addition to the local production platform we will be able to supply this market with products and services from our Pforzheim plant," commented Dr. Jörg Beuers, Head of the Jewellery and Electroplating business unit, and CEO and Chairman of Allgemeine (Allgemeine Gold- und Silberscheideanstalt AG is
90.8% owned by Umicore and is at the heart of its Jewellery and Electroplating business unit).
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