Aurubis to expand in non-copper metals
2020-02-28 12:02:32 [Print]
Aurubis AG, Europe's biggest copper smelter, will boost its expansion into the production of metals other than copper, its new chief executive officer said on Thursday.
"We will undertake over-proportional expansion metals which are not copper," new CEO Roland Harings said. "We will look for new options to grow through acquisitions. We have the financial means for this. We will deliver successes in this area until 2023, especially in the recycling business."
Harings, who took over as CEO in July 2019, said the group will use its strength in processing complex ores and recycling materials to expand production of other metals.
In the next three years, Aurubis will increase its focus on metals production and recycling rather than products, he said. "For this reason, we will sell our flat rolled business," he said. "Although the first attempt was stopped by the European Commission in 2019, this is still our express objective."
European Union competition authorities in early 2019 blocked a plan by Aurubis to sell the division to German copper products producer Wieland, arguing the deal could lead to higher prices.
EU competition regulators in November 2019 also opened an investigation into Aurubis' planned 380 million euro acquisition of Belgian-Spanish metal recycling group Metallo. "We expect a decision by April at the latest," Harings said.
"We will undertake over-proportional expansion metals which are not copper," new CEO Roland Harings said. "We will look for new options to grow through acquisitions. We have the financial means for this. We will deliver successes in this area until 2023, especially in the recycling business."
Harings, who took over as CEO in July 2019, said the group will use its strength in processing complex ores and recycling materials to expand production of other metals.
In the next three years, Aurubis will increase its focus on metals production and recycling rather than products, he said. "For this reason, we will sell our flat rolled business," he said. "Although the first attempt was stopped by the European Commission in 2019, this is still our express objective."
European Union competition authorities in early 2019 blocked a plan by Aurubis to sell the division to German copper products producer Wieland, arguing the deal could lead to higher prices.
EU competition regulators in November 2019 also opened an investigation into Aurubis' planned 380 million euro acquisition of Belgian-Spanish metal recycling group Metallo. "We expect a decision by April at the latest," Harings said.
Copper Cathode 99.99%min Delivered China
Unit:RMB/mt
China's copper rod producers' inventory statistics by province by month
Unit: mt
