The company is organized into three operating divisions: Antimony, Plastics and Lead. In September 2025, Campine completed the acquisition of Ecobat's French battery recycling operations, adding 70,000 tonnes of annual battery recycling capacity, positioning the company for significant capacity expansion and geographic growth.
Cyborg Score Rationale
Campine operates in attractive circular economy and battery recycling sectors with established market leadership in antimony trioxide production. Recent acquisition of Ecobat's French operations demonstrates strategic growth momentum, though as a smaller-cap Belgian company, it faces liquidity and scale constraints versus major multinational competitors.
Top Insights
Market leadership in specialty antimony trioxide production with global reach across 20+ countries
Strategic focus on circular economy aligns with EU sustainability regulations and growing battery recycling demand
Recent acquisition of Ecobat operations expands French footprint and adds 70,000 tonnes annual battery recycling capacity
Diversified revenue base across antimony (51%), lead recycling (49%), and plastics masterbatch divisions mitigates commodity exposure
Named Competitors
Battery Recycling & Lead Recovery — Leading battery recycling company competing in lead and lithium recovery
Lead Smelting & Recycling — Major integrated mining groups with lead recycling operations
Antimony Trioxide Production — Specialty chemical producer in flame retardants and catalysts
Recent Developments
(September 2025) Completed acquisition of Ecobat's French battery recycling operations including three facilities with €100M 2024 revenue
(2024-2025) Expanded French operations to five total sites with proprietary multi-material recovery technology
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