Aurubis to acquire Metallo for $424m.

Aurubis, which operates copper smelting and refining facilities, agreed to acquire the Metallo, a recycling and refining company that specializes in recovering non-ferrous metals from recycling materials with lower metal contents, from funds managed by TowerBrook, for $424m. The acquisition of Metallo, with its attractive growth potential, strengthens Aurubis’ metal portfolio, especially in the key metals copper, nickel, tin, zinc, and lead. The Metallo Group complements the investment project Future Complex Metallurgy, with which Aurubis will process a higher volume of complex input materials. “I am pleased to be able to announce this positive news shortly after joining Aurubis. In the course of taking over my new duties, I was already able to deal intensively with Metallo and, in close cooperation with my colleagues on the Executive Board and the project team, I was able to implement the decision to acquire it promptly as an important step in the implementation of the recycling strategy,” Roland Harings, Aurubis Deputy Chairman of the Executive Board.