Press Release

Aurubis AG receives European Commission’s unconditional approval for Metallo Group acquisition

Hamburg, Monday, May 4, 2020

 

  • Commission clears the way for acquisition of Belgian-Spanish recycling company with around 540 employees
  • Purchase price of € 380 million
  • Merger optimizes Aurubis’ smelter network and enables sustainable growth in attractive recycling sector
  • Closing on May 29, 2020 and initial consolidation of Metallo into Aurubis Group starting June 1, 2020

 

Green light from Brussels: the EU antitrust authorities issued Aurubis AG unconditional approval for the acquisition of the Belgian-Spanish Metallo Group. This concludes the merger control proceedings that have been ongoing since August 2019. The formal closing of the transaction will take place on May 29.

In May 2019, Aurubis reported its intention to acquire recycling and refining company Metallo for a purchase price of € 380 million. Metallo Group Holding is currently majority-owned by investment firm TowerBrook Capital Partners. Metallo specializes in the recovery of non-ferrous metals from a variety of material streams and employs about 540 employees at locations in Belgium and Spain.

“Today is a remarkable day for Aurubis and Metallo. We enthusiastically welcome the approval of the Metallo Group acquisition. The merger is a key milestone in the implementation of our multi-metal strategy,” said Aurubis AG Executive Board Chairman Roland Harings. He continued: “Recycling is crucial for a sustainable society and, furthermore, is an attractive global growth market. Metallo’s processing know-how and technical processes perfectly complement Aurubis’ core expertise. Together, we will continue to expand our capabilities and capacities for recycling important industrial and precious metals, making a meaningful contribution to strengthening the circular economy. With their ‘zero-waste’ business model, Metallo and Aurubis already ensure that all input materials are processed into products of value.”

Aurubis AG Supervisory Board Chairman Prof. Dr. Fritz Vahrenholt emphasized: “The Supervisory Board welcomes today’s decision from Brussels. The acquisition of Metallo, with its plants in Belgium and Spain, is a notable growth step in the recycling of copper and other metals like nickel and tin – this is important for our competitiveness in a challenging international market. In addition, Aurubis und Metallo share values such as sustainability, innovation, and cutting-edge technology.”

Metallo Belgium, based in Beerse, was founded in 1919. In the 1960s, the company developed processes to recycle copper, tin, and lead from raw materials with low metal contents and promoted innovations to invest in sustainable technologies in order to strengthen its “zero-waste” strategy. Metallo Spain, formerly called Elmet, was founded in Berango (in the province of Biscay) in 1991.

 

 

Aurubis - Metals for Progress

Aurubis AG is a leading global 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. 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).

Cookies

Aurubis would like to offer you the best possible service. To do this, we store information about your visit in so-called cookies. You can find detailed information about the use of cookies on this website under “Show details.” You can check or uncheck the options in the following selection bar to choose which of the different cookies you want to accept. However, you cannot deselect necessary cookies. By clicking OK, you agree to the use of cookies.

Show details

Necessary cookies help to make a website usable by enabling basic functions such as page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

Necessary Cookies

Name of Cookie Function Storage period

cookie-popup /
required-cookies

Stores whether (functional) cookies have been accepted. 24 months from setting / update

functional-cookies /
additional-cookies

Stores whether (optional) cookies have been accepted. 24 months from setting / update

AWSELBCORS

Amazon AWS: Used when distributing user requests to the servers.

Until the end of the session

 

Preference cookies enable a website to remember information that affects the way a website behaves or looks. This information includes e.g. B. Your preferred language or the region you are in.

Preference-Cookies

Name of Cookie Function Storage period

__utma

Google Analytics: Used to differentiate between users and sessions

24 months from setting / update

__utmb

Google Analytics: Used to determine new sessions & visits. Is updated every time data is sent to Google Analytics.

30 minutes from setting / update

__utmc

Google Analytics: In the past, this cookie operated in conjunction with the __utmb cookie to determine whether the user was in a new session/visit.

Until the end of the session

__utmz

Google Analytics: Stores where the user reached the page from.

6 months from setting / update

__utmt

Google Analytics: Used to limit the request rate.

10 Minutes

 

Cookies are small text files that websites use to make users’ experience more efficient, to provide certain functions, or to enable certain analyses. This site uses different types of cookies . Some cookies are placed by third parties that appear on our sites. We have no technical influence on cookies placed by third parties.