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Umicore to consolidate in cobalt/nickel chemicals

Umicore has announced plans to streamline its cobalt activities in the Cobalt & Specialty Materials business unit in order to strengthen its competitive position. This will lead to about €55 million in charges.

The unit, which makes cobalt and nickel speciality chemicals for a wide-range of non-battery applications, has been facing increasing competition in many markets and in cobalt refining in recent years.

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