Umicore has signed an agreement to sell its small electronic packaging materials business activity to German-based precious metals and technology group Heraeus.

The business produces soft solder wires and pastes for electronic die-attach applications. All 36 employees at its operations in Hanau, Germany, and Singapore are to be transferred to the new owner. The transaction is expected to be closed by the end of April.

In parallel, Umicore sold its 15.88 percent shareholding in Duksan Hi-Metal Co. Ltd. of South Korea, a leading producer ofball grid arrays.
Umicore’s presence in both activities was too small to achieve a leadership position on a stand-alone basis.

The total combined cash proceeds from these divestments are approximately €12 million.