(Luvata: London, UK. 1 September 2011). Luvata, a world leader in metal solutions manufacturing and related engineering services, confirms it has closed the sale of its Rolled Products division to Aurubis AG.
“The closing of this sale enables Luvata to focus its resources on the next stage of its growth strategy – with clear focus on emerging markets and highly engineered products,” said John Peter Leesi, CEO and President of Luvata Group. “We’ve recently announced expansion plans in India and Grenada, Mississippi for our Heat Transfer Solutions division, along with our expansion plans for superconductors and resistance welding in China. Combined, these decisions demonstrate our aggressive pursuit of future growth opportunities.”
“Our previous Rolled Products business is now part of a vertically integrated business within Aurubis and we see this as very good news for all involved parties.”
The previous Luvata Rolled Products facilities now part of Aurubis include Zutphen, Netherlands; Finspång and Västerås, Sweden; Mortara, Italy; and Buffalo, NY U.S.A. The rolling mill and copper foundry in Pori, Finland are also included in the sale although the majority of the manufacturing facility in Pori will remain with Luvata’s Special Products division, manufacturing products such as photovoltaic wire, superconductors, electrical power parts and metallurgical-application products. Luvata will continue to buy and process approximately 200,000 tonnes of copper per year, as well as other metals.
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Luvata is a world leader in metal solutions manufacturing and related engineering services. Luvata’s solutions are used in industries such as renewable energy, power generation, automotive, medicine, air-conditioning, industrial refrigeration, and consumer products. The company’s continued success is attributed to its longevity, technological excellence and strategy of building partnerships beyond metals. Employing over 6,400 staff in 13 countries, Luvata works in partnership with customers such as Siemens, Toyota, CERN, and DWD International.
The Aurubis Group is the largest copper producer in Europe and the world leader in copper recycling. We produce some 1.1 million tonnes of copper cathodes each year and from them a variety of copper products. We have sites in seven European countries with more than 4,900 employees.
Its core business is the production of marketable copper cathodes from copper concentrates, copper scrap and recycling raw materials. These are processed within the Group into continuous cast wire rod, shapes, rolled products as well as special wire and profiles made of copper and copper alloys. Precious metals and a number of other products, such as sulphuric acid and iron silicate, round off our product portfolio.
Customers of the Aurubis Group include companies in the copper semis industry, the electrical engineering, electronics and chemical industries as well as suppliers of the construction and car industries.
Aurubis is oriented to sustainable growth and to increasing corporate value. The main focus of its strategy is on strengthening its business, utilising growth opportunities and practising a responsible attitude when dealing with people and handling resources and the environment.
Aurubis shares are part of the Prime Standard Segment of the Deutsche Börse and are listed in the MDAX, in the European Stoxx 600 and the Global Challenges Index (GCX). Further information at www.aurubis.com