A spokesman said: “The Group has always recognised that its commitment to financial success must also take into account the broader economic, environmental and social impact of its operations, which have been translated in a set of social and environmental targets on which the company reports every year in its ‘Annual report to shareholders and society’.

“As Umicore has completed its transformation into an international materials-technology company, and employing more than 14000 people, its social and environmental responsibilities have also become global. The implementation of those duties is part of a framework of constructive internal dialogue and open communication.

“The agreement signed with the International Metalworkers’ Federation and the International Federation of Chemical, Energy, Mine and General Workers’ Unions will allow both trade unions to participate constructively in the pursuit of these objectives.

A joint monitoring committee composed of both parties will see to the implementation of the ‘Sustainable Development Agreement’.”