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Thursday July 3, 3:11 PMUmicore Sa Metals Recycler to Acquire Anandeya Zinc Oxides$all $in $mtl $min $me $cheBRUSSELS, July 3 Asia Pulse - The world's leading precious metals recycler Umicore SA on Thursday has said it will buy India's Anandeya Zinc Oxides in Goa. The acquisition and the intended additional investment in the company would amount to some $US10 million, Umicore said in a statement on its website, adding that the transaction was subject to certain standard closing conditions and was expected to be completed by early August. Umicore said the intended investment would involve expanding Anandeya's current zinc oxides product range to different zinc chemicals to provide broader support for the growth of Umicore's global customers in the expanding markets of India and the Middle East. The company said the acquired site of the Indian firm has spare land for the expansion of zinc chemicals production or for the incorporation of other industrial activities. "The experience gained in the transaction will also benefit Umicore in its pursuit of future growth possibilities in India," Umicore said. (PTI) |
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