Aurubis hopes to sell rolled copper division in 2020
2019-12-12 13:43:06 [Print]
Aurubis AG, Europe's biggest copper producer, is in advanced talks to sell its flat rolled products (FRP) division and hopes to agree a deal in 2020, CEO Roland Harings said on Wednesday.
Hamburg-based Aurubis is also considering more takeovers, especially in the recycling sector, Harings said, with possibilities in North America and Asia.
The company sees its FRP unit as non-core and is in advanced talks with industrial companies in Germany and overseas about a sale, said Harings.
European Union competition authorities in February blocked a plan by Aurubis to sell the division to German copper products producer Wieland, arguing the deal could have pushed up prices for consumers.
The FRP unit's main production sites are in Germany, the United States, Netherlands and Finland and it has copper processing centers in Italy, Britain and Slovakia.
The unit generated revenues of about 1.3 billion euros ($1.4 billion) and produced 210,000 tonnes of products in the 2018/19 financial year.
Hamburg-based Aurubis is also considering more takeovers, especially in the recycling sector, Harings said, with possibilities in North America and Asia.
The company sees its FRP unit as non-core and is in advanced talks with industrial companies in Germany and overseas about a sale, said Harings.
European Union competition authorities in February blocked a plan by Aurubis to sell the division to German copper products producer Wieland, arguing the deal could have pushed up prices for consumers.
The FRP unit's main production sites are in Germany, the United States, Netherlands and Finland and it has copper processing centers in Italy, Britain and Slovakia.
The unit generated revenues of about 1.3 billion euros ($1.4 billion) and produced 210,000 tonnes of products in the 2018/19 financial year.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China crude copper producers' suspension number statistics by province by month
Unit: pcs
