Umicore Precious Metals Chemistry has chosen Midas Pharmaceuticals as the exclusive sales agent of the company's Active Pharmaceutical Ingredients (API) segment in the USA and Canada.

Michael Schwarz, Director Global API Business at Umicore, commented: "With their widely-recognized reputation and a clear focus on customer needs, we feel that Midas is an ideal partner to represent Umicore in this important market. Midas will enable us to significantly develop our presence in North America and to work very close to our customers, which is a key element of Umicore's business philosophy.

"With approximately 150 employees, and offices all around the World, Midas operates as a full-service provider and leading company for sourcing and supplying intermediates, APIs, FDFs and dossiers. The company has been active since 2001 in the US market. Tim Feuerstein, President at Midas Pharmaceuticals said: "Our almost 15 year experience of the North American market is well complementing Umicore´s decades of expertise in highly potent APIs."

Umicore operates a state-of-the-art API plant in Pilar, Argentina. Opened in 2009, the facility manufactures high-quality platinum APIs used in chemotherapy. The company is currently experiencing rapid growth of these activities and continues to expand its global presence. Umicore's US team will continue to produce in Tulsa, OK, and directly market in North America Umicore´s precious metals based chemicals and catalysts.