wiredInUSA March 2018

Deutsche Giessdraht Gmbh

Copper acquisition

Copper smelter Aurubis AG has agreed to take 100 percent control of the German copper wire and rod maker Deutsche Giessdraht. Aurubis will achieve control by acquiring the 40 percent stake held by Chile’s Codelco. Aurubis already held 60 percent of Deutsche Giessdraht, while Codelco held the remainder through its German unit, Codelco Kupferhandel GmbH. Aurubis confirmed that the arrangement will require the approval of German competition authorities.

copper rod annually and has about 110 employees at its plant in Emmerich.

Aurubis announced a strategy in March 2017 which it said could include takeovers and expansion into other metals. “Part of our new strategy is an expansion of our copper product capacity, and [the Deutsche Giessdraht] transaction fits into this,” an Aurubis spokeswoman said. CEO Juergen Schachler said in December that Aurubis is placing a major focus on organic growth in its new corporate strategy, but is still open to acquisitions. Aurubis’s last acquisition was Luvata’s rolled copper operations in 2011.

Deutsche Giessdraht produces around 240,000 tonnes of continuous cast wire rod

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wiredInUSA - March 2018