Zinifex and Umicore Seek to Create the World's Leading Producer of Zinc Metal |
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Umicore
3950 S. Clinton Ave.
South Plainfield, NJ, 07080
USA
Press release date: December 11, 2006
Umicore and Zinifex today announced that they had signed a Memorandum of Understanding (MOU) with the objective of combining their respective zinc smelting and alloying businesses. The combination of these businesses would lead to the creation of the world's pre-eminent zinc metal producer with operations on four continents.
Jointly announcing the intended transaction, Greig Gailey, Chief Executive Officer of Zinifex and Thomas Leysen, Chief Executive Officer of Umicore, spoke of the unique opportunity to create a metals business with a truly global reach.
"For Umicore, combining these operations represents an exciting new opportunity for our zinc smelting and alloying operations and would offer the combined entity the chance to pursue its own strategic destiny, guided by an independent management team" said Thomas Leysen.
Greig Gailey, said "By combining our metals businesses we will be able to create an enterprise that would be a global market leader with greater potential than if they remain separately within our respective businesses".
Both Zinifex and Umicore have a track record for proactive, sector-leading commitment to safety and environmental responsibility which will continue to be a hallmark of the new company. The combined business would possess a portfolio of quality assets and would benefit from a presence in both the established and emerging markets of the world. It would also possess significant expertise in the development and marketing of zinc diecasting and galvanizing alloys.
The Zinifex assets to be contributed are the Hobart (Australia), Port Pirie (Australia), Clarksville (USA) and Budel (Netherlands) smelting and alloying operations as well as its shareholdings in Australian Refined Alloys (Australia) and Genesis Alloys (China). The Umicore assets to be contributed are the Balen (Belgium), Overpelt (Belgium), Auby (France) and GM Metal (France) smelting and alloying operations as well as its shareholdings in Padaeng Industry (Thailand) , Galva 45 (France), Umicore Yunnan Zinc Alloys (China) and Föhl China (China).
n.v. Umicore s.a. Corporate Communication Broekstraat 31 Rue du Marais B-1000 Brussels, Belgium www.umicore.com Phone +32 2 227 71 28 Fax +32 2 227 79 03 e-mail info@umicore.com
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