HAMBURG, 04-Apr-2018 — /EuropaWire/ — Aurubis AG (Aurubis) and Wieland-Werke AG (Wieland), Ulm, signed the contract regarding the sale of Segment Flat Rolled Products (FRP) on March 29, 2018.
Execution of the sales contract is subject to approval by the federal antitrust authorities. The parties have agreed not to disclose the purchase price.
The sale of the strip business significantly strengthens Aurubis’ strategic orientation towards multi-metal business, which was announced in December. “We are extremely pleased that, with the signing of the sales contract, we were able to achieve a significant milestone towards completion of the transaction. Approval by the antitrust authorities will now be the next step,” explained Jürgen Schachler, Executive Board Chairman of Aurubis.
In the course of this, Dr. Stefan Boel, Executive Board member responsible for this segment, will leave Aurubis on July 31, 2018 by amicable and mutual consent with the Supervisory Board. “In his role as an Executive Board member since 2008, Dr. Boel has demonstrated great commitment, particularly within the scope of the Cumerio integration and the restructuring of the strip business, as well as the subsequent sale. We thank Dr. Boel for the work he has done on behalf of the company and wish him all the best for the future,” emphasized Prof. Dr. Fritz Vahrenholt, Chairman of the Supervisory Board at Aurubis.
Aurubis – Metals for Progress
Aurubis AG is a leading worldwide provider of non-ferrous metals and the largest copper recycler worldwide. The company processes complex metal concentrates, scrap metals and metal-bearing recycling materials into metals of the highest quality.
Its main area of expertise is the processing and optimal recovery of concentrates and of recycling raw materials with complex qualities. With its range of services, Aurubis is a forerunner in the industry. The group of companies is oriented towards growth, efficiency and sustainability: The main components of the strategy are the expansion of the leading market position as an integrated copper producer, entering new markets in the area of industries of the future, the highly efficient and optimal production of additional metals and by-products from complex raw materials, as well as practicing a responsible attitude when dealing with people, resources and the environment.
Aurubis produces more than 1 million t of copper cathodes annually and from them a variety of copper products such as wire rod, continuous cast shapes, rolled products and strips, as well as specialty wire and copper profiles and alloys. Precious metals, selenium, lead, nickel and a series of other products such as sulfuric acid and iron silicate also belong to the product portfolio.
Aurubis has about 6,500 employees, production sites in Europe and the USA and an extensive service and sales system in Europe, Asia and North America.
Aurubis’ customers include companies in the copper semis industry, the electrical engineering, electronics and chemical industries, as well as suppliers of the renewable energies, construction and automotive sectors.
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.
SOURCE: Aurubis AG
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