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Umicore's net profit rose 22% in the first half to 163 million euros, the Belgian group specializing in materials technology and recycling announced on Tuesday. Its performances have been better than expected, in particular thanks to the worldwide increase in demand for electric and hybrid vehicles. Umicore, which has four sites in Belgium, supplies materials for lithium-ion batteries that are mounted in hybrid and electric vehicles. The demand for cathode materials is so strong that Umicore is expanding its production capacity in South Korea and China. The new lines will be available again this year
The Belgian group has also decided to build new factories in China and Poland. Preparations for these investments are already underway, he says. The port of Antwerp was also a candidate to host the site which will eventually be established in Nysa (southern Poland), where the badets were more numerous (proximity to Umicore's European customers, access to a technical workforce and a supply of low-carbon electricity.)
In Belgium, Umicore will invest in a new knowledge center on its existing site in Olen, where one of its research and development centers more important is in activity. About twenty researchers will be recruited for this center, which will be operational by the end of 2019.
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