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Umicore AG & Co. KG Rodenbacher Chaussee 4 63457 Hanau, Germany http://www.de.umicore.com
Contact Mr Bart CROLS +32 2 227 71 29
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Umicore AG & Co. KG

Impairment of Umicore's stake in Nyrstar

(PresseBox) (Hanau, )
Subsequent to the impairment review undertaken by Nyrstar (announced on 22 January) and in line with International Financial Reporting Standards (IFRS) Umicore will reduce the book value of its 5.25% stake in Nyrstar to reflect the closing share price of Nyrstar on 31 December 2008 (EUR 2.19). This will generate a non-recurring, noncash charge of EUR 68.1 million in the 2008 income statement which will be presented for approval by the Board of Directors on 11 February 2009.

IFRS require that the year-end share price of Nyrstar be used as the benchmark for the impairment in Umicore's books. Nyrstar's own detailed impairment review, which is based on expected future cash flows of the company, values Nyrstar at a significantly higher level. Umicore is not considering the sale of its stake in Nyrstar at the current share price levels.

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Umicore AG & Co. KG

Umicore is a materials technology group. Its activities are centred on four business areas: Advanced Materials, Precious Metals Products and Catalysts, Precious Metals Services and Zinc Specialties. Each business area is divided into market-focused business units, be it in products that are essential to everyday life or those at the cutting edge of new technological developments.

Umicore focuses on application areas where it knows its expertise in materials science, chemistry and metallurgy can make a real difference. Umicore generates approximately 50% of its revenues and spends approximately 80% of its R&D budget in the area of clean technology, such as emission control catalysts, materials for rechargeable batteries and photovoltaics, fuel cells, and recycling.

The Umicore Group has industrial operations on all continents and serves a global customer base; it generated a turnover of EUR 8.3 billion (EUR 1.9 billion excluding metal) in 2007 and currently employs some 15,800 people.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.