Umicore: receives binding offer for building products unit.

(CercleFinance.com) - Umicore has said that it has received a binding offer from fellow Belgium-based Fedrus International for its building products activities.


Based on this offer, the metals and speciality materials maker has decided to pursue exclusive negotiations with Fedrus, which produces roofing materials, guttering, and building envelope accessories.

Umicore announced its intention to sell its building products businesses, which trades under the brand name VMZINC, in early 2015. The operations encompass seven industrial sites in Europe and employs some 950 people.

VMZINC is specialised in the manufacture and marketing of rolled zinc products for building envelopes.

According to Umicore, this a highly complementary with Fedrus International in terms of product offering and geographical presence.

"We believe that this is an ideal new home for the VMZINC activities," commented Umicore's CEO Marc Grynberg.

Umicore shares are down 0.6% at 59.6 euros this morning in Brussels' BEL 20 index.

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