Aurubis signs sales and purchase agreement with KME for parts of flat rolled products segment
Hamburg | Wednesday, February 16, 2022
After signing a term sheet in August 2021, Aurubis AG has taken the next step and, following the approval of the relevant decision-making bodies, has signed and notarized the agreement (SPA – sales and purchase agreement) for the partial sale of its flat rolled products (FRP) segment with KME SE. 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 sold. As announced, the FRP plants in Stolberg, Pori, and Buffalo will remain in the Aurubis Group.
The FRP segment generated significantly improved operating earnings before taxes (EBT) of € 13 million in the past fiscal year 2020/21 (previous year: € 1 million).
KME SE is the operational subsidiary of INTEK Holding and, with plants in Germany, France, Italy, China, and the US, is one of the leading manufacturers of copper and copper alloy products worldwide.
The closing of the transaction is expected in summer 2022 following approval by the national competition authorities.
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