DGAP-News: Aurubis AG: Aurubis completes sale of four flat rolled products sites to KME
DGAP-News: Aurubis AG
/ Key word(s): Disposal
Aurubis completes sale of four flat rolled products sites to KME
Hamburg, August 1, 2022 Multimetal supplier Aurubis is selling parts of its flat rolled products segment (FRP) to KME SE. The sale was approved by the relevant supervisory authorities in May and closed on July 29, 2022.
According to the agreement, the Zutphen (Netherlands) site as well as the slitting centers in Birmingham (United Kingdom), Dolný Kubín (Slovakia), and Mortara (Italy) with a total of about 360 employees will be transferred to KME SE. As announced, the FRP plants in Stolberg (Germany), Pori (Finland), and Buffalo (USA) will remain in the Aurubis Group.
The purchase price is about 12 million plus about 63 million for the net working capital at the time of closing. The net working capital was settled through the repayment of company loans to Aurubis in the same amount.
KME SE is the operational subsidiary of INTEK Group SpA and, with plants in Germany, France, Italy, China, and the US, is one of the leading manufacturers of copper and copper alloy products worldwide.
Aurubis - Metals for Progress
Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin, and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.
Sustainability is a fundamental part of the Aurubis strategy. Aurubis responsibly transforms raw materials into value following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.
Aurubis has about 7,200 employees, production sites in Europe and the US, and an extensive service and distribution system in Europe, Asia, and North America.
Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX, the Global Challenges Index (GCX), and the STOXX Europe 600.
Further information at www.aurubis.com
01.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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