Aurubis Eyes Sale of Non-Core Flat Rolled Products Division

SEATTLE (Scrap Monster): The world’s largest copper recycler- Aurubis AG announced that it is in advanced talks to offload its flat rolled products (FRP) division and that a deal is likely to happen in 2020. Furthermore, the Hamburg, Germany-based company aims at more takeovers in the recycling sector, especially in North America and Asia regions.

Announcing the decision, Roland Harings, CEO, Aurubis noted that the company is currently indulged in talks with local as well as overseas industrial companies on sale of its FRP unit. This is in line with the company’s strategic goal to exit from non-core assets. Incidentally, the unit with production sites in Germany, the U.S., Netherlands and Finland, had generated revenues of nearly $1.4 billion in FY 2018-’19.

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Meantime, Harings said that the company is on the lookout for acquisition opportunities in recycling of copper and other metals, as part of its strategy to expand output of other metals along with copper. The U.S. and other regions in North America along with Asia are the primary regions under consideration for the proposed expansion. The company sits on top of financial resources of nearly 1 billion euros for acquisitions and expansions, he added.

Also, Harings expressed confidence that the Metallo acquisition deal is likely to get final EU approval by April next year.