(Finance) – KME, a company controlled by Intek Groupyesterday signed with Aurubis AG, one of the world’s largest suppliers of non-ferrous metals and a leading copper recycling company, a contract for the purchase of part of the production segment of Aurubis’ flat rolled products (“FRP”) .
The signed contract, which follows the signed term-sheet, communicated to the market in August 2021, provides for the purchase by KME of the Aurubis FRP plant in Zutphen (Holland), as well as the cutting centers in Birmingham (United Kingdom). , Dolný Kubín (Slovakia) and Mortara (Italy), for a total turnover of approximately 280 million euros and approximately 360 employees.
The transaction – the company specifies in a note – does not include the other Aurubis plants dedicated to the FRP business, located in Buffalo (USA), Stolberg (Germany) and Pori (Finland).
The corresponding forecast of the transaction at the Closing will be approximately 8 million, plus the value of the net working capital at the date of the Closing (reference value at 30 June 2021: 67 million euros). The operation will be financed with the use of own sources as regards the value of the equity and with the financing of third parties for the working capital.
The closing of the operation is scheduled for summer 2022subject to the occurrence of certain conditions precedent, including approval by the competent merger control authorities.