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 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.