June 18 (Reuters) -

Belgian metal recycling group Umicore is planning substantial workforce reductions at its German automotive catalysts business, it said on Tuesday, citing looser than expected Euro 7 emissions legislation and lower demand for cars.

The planned cuts target a 14% reduction in positions by 2027, affecting 140 jobs in Hanau, Hesse.

The company said that while internal combustion engine cars will remain dominant for the next years, demand is beginning to peak, the company said.

"Umicore's strategy for Automotive Catalysts reflects this development," it added.

Umicore's catalysis business, its largest by revenue, recycles rare metals used in emissions control devices, imposed by emissions regulations.

In September last year

the European Union agreed on a looser compromise proposal for its latest Euro 7 norm. (Reporting by Nathan Vifflin, Editing by Louise Heavens)