Aurubis becomes the world’s leading integrated copper producer and processor Acquisition of former Luvata Rolled Products Division completed
Hamburg, 1 September 2011 – Following the Cumerio acquisition in 2008, the Aurubis Group has taken another important step to becoming the world’s leading integrated copper producer and processor. The acquisition of the former Rolled Products Division of Luvata (Luvata RPD), which was announced at the end of April, was concluded with the closing on Thursday. This will be followed by an integration phase lasting several months. Aurubis AG now has over 16 production sites, four service centres and an expanded sales system for copper products, is represented in 22 countries in Europe, North America and Asia and employs about 6,200 employees.
The European Commission authorised the acquisition in early August without restrictions. The antitrust authorities in the USA and Turkey had previously given their approval. The acquisition price is primarily based on the net working capital as of 31 August 2011. It is estimated to be between € 200 and 220 million and will be finalised when auditors have confirmed the intrinsic value of the acquired assets and liabilities. Dr Bernd Drouven, Chief Executive Officer of Aurubis, said: “With today’s acquisition of the former Rolled Products Division of Luvata RPD, Aurubis strengthens its copper strip business and consistently implements its strategic growth targets. Our customers benefit from the creation of a high-performance, reliable supplier with a complete product portfolio and a global reach.” This acquisition enables the Copper Products Business Unit to widen its product portfolio considerably, expand into North American markets, achieve a stronger presence in Europe and intensify its international sales activities. The companies acquired from Aurubis in the Netherlands, Finland and Russia operate under Luvata Netherlands BV, Aurubis Finland Oy and Aurubis OOO Rus. effective immediately. Sales employees in the Luvata rolling division who were previously employed in a Aurubis Group sales company have been integrated into the newly established Aurubis Product Sales GmbH. The name change for all other companies in China, Italy, Sweden and the USA are scheduled to take place in the next 180 days for technical reasons.
Aurubis is the leading integrated copper group and the world’s largest copper recycler. We produce some 1 million tonnes of copper cathodes each year and from them a variety of copper products. Further information: www.aurubis.com
