Aurubis : and TSR establish joint venture for cable recycling

• Objective of the joint venture: expansion of cable recycling, sustainable closing-the-loop solutions for the metal industry, continued development of cable recycling processes
• TSR will hold 60 %, Aurubis 40 % of Cablo GmbH
• Closing of the transaction planned for Q1 2021

Aurubis AG (Aurubis) and TSR Recycling GmbH & Co. KG (TSR) have signed a joint venture agreement. The future joint venture will unite the cable dismantling activities of Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH, Fehrbellin (Cablo) and those of the TSR site in Gelsenkirchen with the objective of recovering copper granules and plastics.

The joint venture will operate under the name Cablo GmbH. TSR will hold 60 % of the joint venture as a partner and manage the company from an operational perspective. Aurubis AG will hold 40 % of this newly established limited liability company. All of the employees of Aurubis subsidiary Cablo in Fehrbellin, located in the German state of Brandenburg, will be part of the new joint venture as well as cable pre-processing employees of TSR from the site in Gelsenkirchen, located in the German state of North Rhine-Westphalia.

Cablo in Fehrbellin has specialized in recycling copper and aluminum cable since 1949 and produces a wide variety of metal granules. The company also fabricates plastic products from cable insulation. The TSR branch in Gelsenkirchen operates two cable granulators and processes various types of cable, likewise recovering different qualities of copper granules.

'Sustainably closing the loop is Aurubis' core business and area of growth. When it comes to cable recycling, we view TSR, one of our long-term suppliers of input materials, as the ideal partner to continue developing the vital recycling business. With the joint venture with TSR, we will boost the volume of input materials and create solutions for the plastic materials that accumulate during recycling, which pose a substantial challenge in the recycling of cable waste,' explained Roland Harings, CEO of Aurubis AG. He continued, 'The separate recycling strengths of both partners will complement each other perfectly in the joint venture: TSR contributes a broad network of branches that collect the materials, as well as its existing logistics and its pre-processing expertise; Aurubis brings along extensive metallurgical processing knowledge for a wide variety of recycling raw materials to recover different metals. Together, we will continue optimizing the recycling processes.'

Bernd Fleschenberg, COO of TSR, emphasized, 'As a recycling company, we are committed to bringing the circular economy to life. With our joint venture, we now have the opportunity to join our sourcing, production, and marketing know-how in one company to produce high-quality recycling raw materials for reuse in industry, thus closing loops even more effectively along the entire value chain. Considering the objectives of the European Commission's Green Deal, which focuses on the shift from a linear to a circular economy, our joint venture makes a crucial contribution to enhancing the circular economy - and serves as a role model for other material flows as well.'

The closing of the transaction is planned for Q1 2021.

Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, and metal-bearing recycling materials into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin, and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. 'Aurubis responsibly transforms raw materials into value' - following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has about 7,400 employees, production sites in Europe and the US, and an extensive service and distribution system in Europe, Asia, and North America.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX and the Global Challenges Index (GCX).

TSR Recycling GmbH & Co. KG

TSR Recycling GmbH & Co. KG - a company of the REMONDIS Group - is one of the leading companies in iron and non-ferrous metal recycling.

At its 150 locations across Europe, about 3,000 employees take care of all of the work revolving around the topic of metal recycling. In addition to purchasing, sales, and material pre-processing, TSR performs any and all services related to scrap metal recycling for industry, business, and communities.

With 80 pre-processing plants, the company recycles around 7.5 million tons of ferrous metals and roughly 0.5 million tons of non-ferrous metals annually, producing high-quality recycling raw materials that can be reused in production. TSR is therefore a key part of the circular economy and contributes to conserving resources and the environment.

Further information at www.tsr.eu