Aurubis AG: Aurubis Sells US Flat Rolled Products Site In Buffalo To The Wieland Group

EQS-News: Aurubis AG / Key word(s): Miscellaneous
Aurubis AG: Aurubis sells US flat rolled products site in Buffalo to the Wieland Group
04.09.2024 / 14:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

Aurubis sells US flat rolled products site in Buffalo to the Wieland Group

Hamburg, September 4, 2024 - Aurubis AG is selling its Buffalo site in the US state of New York to the Wieland Group (Wieland). Wieland is a manufacturer of semi-finished copper and copper alloy products based in Ulm, Germany. The signing and closing of the sale took place on August 30, 2024. Both parties have agreed to keep the sale price of the transaction confidential.

Continued focus on core business

In the future, Aurubis will be concentrating even more strongly on primary copper production, recycling and the multimetal portfolio of its smelter network. In mid-2022, the company sold the production sites in Zutphen (Netherlands) as well as the slitting centers in Birmingham (United Kingdom), Dolný Kubín (Slovakia), and Mortara (Italy) with a total of about 360 employees to KME SE based in Osnabrück, Germany. With the sale of the Buffalo site, Aurubis continues to reduce the scope and complexity of its flat rolled product area.

Since June 2022, Aurubis has been building a new production site in Augusta in the US state of Georgia with a focus on processing complex recycling materials as part of its growth strategy. In 2019, the company also bought the former Metallo Group - a recycling specialist - and successfully integrated it into the Group.

About the Buffalo site:

Aurubis Buffalo, Inc. has about 500 employees and produces copper and copper alloy strip and sheets that are used to manufacture a wide range of product lines including electrical products, electronic connectors, heat exchangers, and architectural products. The site is a supplier for a number of customers, primarily in the US. Aurubis Buffalo's production and business activities were largely independent of the Aurubis Group, both in relation to the growing recycling business at the Georgia site and the Aurubis sites in Europe.

Aurubis - Metals for Progress

Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues 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 around 6,900 employees, production sites in Europe and the US, and an extensive distribution network around the world.

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.

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04.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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