Aurubis completes sale of four flat rolled products sites to KME
Hamburg | Monday, 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.
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