Aurubis Concluded Acquisition of Metallo Group Assets

SEATTLE (Scrap Monster): The Hamburg, Germany-headquartered Aurubis AG announced that it has completed previously announced $430 million acquisition of Metallo Group on May 29^th, 2020. The integration of Metallo assets started effective June 1^st, Aurubis press release said.

The acquisition deal adds Metallo’s plants in Belgium and Spain to the total recycling capacity of metals including copper, nickel and tin. The additional locations added to Aurubis’ fold includes Bersee in Belgium that employs nearly 450 people and the Berango facility in Spain with nearly 90 employees. The Metallo brand name, being a well-established name in the metal recycling industry, will be retained.

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Roland Harings, Aurubis AG executive board chairman welcomed Metallo colleagues to the worldwide Aurubis family. The integration of Metallo production sites to its production network will boost its secondary metal recycling capacity to more than 1 million tons. The acquisition is a major step in the implementation of its multimetal strategy, thereby helping the company in becoming one of the most efficient and sustainable smelter networks in the world.

It must be noted that the deal initially announced in May last year, was finally approved by EU competition authorities last month.