Umicore suspends construction of Canadian battery materials plant, plans to lay off 260 employees

Umicore, a Belgium-based specialty chemical giant, recently announced the details of a strategic review of its battery materials business and decided to suspend the construction of a new battery materials plant in Canada. The decision will affect about 260 jobs, 100 of which are in Belgium. Umicore plans to adjust the size of its workforce at its Jiangmen production plant in China, while the long-term supply agreement for high-nickel cathode active materials for the North American market signed with AESC will be provided by the plant in Cheonan, South Korea.