Given its excellence in brewing and chocolate-making, it might not be a surprise to learn that Belgium’s processing skills have spawned other sources of national industrial expertise.
Tip style
Growth
Risk rating
Medium
Timescale
Long Term
Bull points
- Multiple earnings sources
- Cheap versus five-year average
- Batteries specialisation
- Market barriers to entry
Bear points
- Auto industry struggles
- High capital spending requirements
As well as recycling group Renewi (RWI) – which has a big presence in the country – the European state is home to one of the world’s top midstream chemical processing and metal refining companies. The two areas are more closely related than you might think. When it comes to lithium, the market is so specialised and dependent on product consistency that it is more closely linked to chemicals than a copper or nickel supply chain.