Press Release

Aurubis acquires Codelco’s shares in Deutsche Giessdraht

Hamburg, Monday, January 22, 2018

On January 19, 2018 Aurubis AG (Aurubis) and Codelco Kupferhandel GmbH (Codelco Kupferhandel) signed a purchase agreement for the acquisition of Codelco’s share in Deutsche Giessdraht GmbH (Deutsche Giessdraht) by Aurubis.

The final transfer of ownership is subject to approval by German “Bundeskartellamt” (federal anti-trust office). Both parties have agreed to not disclose the purchase price. Until now, Aurubis has held 60% and Codelco has held 40% of the joint venture with about 110 employees.

Deutsche Giessdraht produces around 240,000 tons of copper wire rod per year out of high quality Grade A cathodes. The marketing of the products has until now taken place via the respective sales organizations of Aurubis and Codelco Kupferhandel.

In 2018, there will be no changes for customers obtaining the copper wire rod brand Rhein-Rod from Deutsche Giessdraht. Both Aurubis and Codelco Kupferhandel will fulfill their independently-concluded supply contracts. As of 2019, Aurubis will assume sole marketing of the brand Rhein-Rod.

 

 

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, and metal-bearing recycling materials 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 7,400 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 and the Global Challenges Index (GCX).

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