KME SE signed a term sheet to acquire FRP segments in Zutphen and slitting centers in Birmingham, Dolný Kubín and Mortara from Aurubis AG €12 million.

KME SE signed a term sheet to acquire FRP segments in Zutphen and slitting centers in Birmingham, Dolný Kubín and Mortara from Aurubis AG for €12 million on August 9, 2021. KME SE signed a sales and purchase agreement to acquire FRP segments in Zutphen and slitting centers in Birmingham, Dolný Kubín and Mortara from Aurubis AG on February 16, 2022. Following transaction, the FRP plants in Stolberg, Pori, and Buffalo will remain in the Aurubis.

The purchase agreement can be signed within the next two months. The FRP segments reported turnover of €280 million. A total of about 360 employees will be moved along with the plants.

The transaction is approved by relevant decision-making bodies of Aurubis and remains subject to certain conditions precedent, including the approval by national competition authorities. Closing of the transaction is expected in summer 2022.