EU antitrust authorities have given official approval for the acquisition of the Belgian-Spanish Metallo Group by Aurubis, a Hamburg-based producer and recycler of copper.
Aurubis
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 specialises 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.
“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,” he continued.
Aurubis AG Supervisory Board Chairman Prof. Dr. Fritz Vahrenholt added: “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 and 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
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