Umicore acquires full ownership of Todini and Co.

Umicore, a Brussels-based materials technology and recycling company, has reached an agreement with the Todini family to purchase the family’s 52 percent stake in the Italian firm Todini and Co.  The purchase makes Umicore the 100 percent owner of the company.

Since 2005, Umicore and the Todini Group spa have operated a joint venture focused on distributing chemical products such as metal salts and nonferrous metal oxides. Todini and Co., based in Monza, Italy, has six subsidiaries outside Italy and is involved in the distribution of industrial chemical products. Its customers serve a variety of industries including surface treatment and plating, pigments, glass and ceramics and animal nutrition.

Following completion of the deal Todini and Co. will be integrated into Umicore’s Cobalt & Specialty Materials business unit. The consolidation will enable the newly acquired business to expand its distribution activities and strengthen its supply chain from raw materials to end customers.

Joris van Hove, Umicore’s global business director, says, “We are very pleased with this acquisition and the benefits it will bring to both companies in the different markets. Twelve months after our acquisition of U.S. distributor Palm Commodities, this underlines our commitment to further expand our activities, to strengthen our product portfolio and to add an additional step in the overall value chain.”

Carlo Todini with the Todini Group also applauds the deal. “Todini Group spa and Umicore can be proud of a successful and profitable collaboration over the past ten years. Becoming part of Umicore is the logical next step in the development of the JV Todini and Co.”