The cobalt space has been fairly quiet this past month, with few companies releasing news. But breaking up the monotony earlier this week was Belgian materials technology and recycling firm Umicore (EBR:UMI), which announced two interesting transactions on Monday. First, the company said it has acquired Ohio's CP Chemicals and will be integrating the business into its Cobalt & Specialty Materials business unit. CP refines secondary materials containing cobalt and nickel, transforming them into "chemicals for the catalyst and petrochemical refining industries." It also recycles rhenium from superalloy turbine blades. Umicore believes the deal will allow it "to establish new cobalt and nickel recycling capabilities in North America," a move that fits with its "strategy to strengthen its position along the cobalt and nickel value chain, from recycling and to transformation and distribution." Second, Umicore announced a long-term agreement under which it will recycle cobalt-containing hard metals scrap from Global Tungsten and Powders, then supply the company with cobalt fine powders. According to Jan Vliegen, senior vice president of Umicore's Cobalt & Specialty Materials business unit, that transaction is also part of the company's plan to grow its position in North America. Vliegen said, "[t]ogether with the recent acquisition of Palm Commodities this confirms our ambition to further strengthen our North American presence. It also underlines Umicore's commitment to contribute to the recycling of scrap in the hard metals industry." Global Tungsten & Powders states in a press release that it anticipates "finaliz[ing] this transition" in mid-2015. Price update Though cobalt companies put out little news in August, the metal's price activity has been comparatively exciting, with both low- and high-grade cobalt prices reaching their highest level in 29 months at the end of July. As Metal Bulletin reported, low-grade material was trading between $14.45 and $15.50 per pound, while high-grade material was moving between $15 and $15.50.