EU clears Aurubis and TSR joint venture
EU clears Aurubis and TSR joint venture
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The European Commission has issued merger control clearance for the planned joint venture between Aurubis AG, headquartered in Hamburg, Germany, and TSR Recycling GmbH & Co. KG, headquartered in Lunen, Germany. In November of last year, the two companies announced they would form a joint venture to unite the Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH in Fehrbellin, Germany, with TSR’s cable recycling operation in Gelsenkirchen, Germany, to recover copper granules and plastics.
Cablo GmbH, the new joint venture, is 60 percent owned by TSR and 40 percent owned by Aurubis. All the employees of Aurubis subsidiary Cablo in Fehrbellin and the employees at TSR’s cable preprocessing site in Gelsenkirchen will be part of the new joint venture.
Cablo 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, recovering different qualities of copper granules.
Bernd Fleschenberg, chief operating officer of TSR, says, “By bundling the cable recycling expertise of Aurubis and TSR, we’re fully focusing on preprocessing cable in this joint venture, particularly copper cable with a broad range of qualities. We are hoping for an even stronger boost in the quality of preprocessing because copper and plastic recycling makes a significant contribution to protecting resources and the climate.”
He says the joint venture is positioned “to close material cycles along the entire value chain even more effectively in this subsegment,” adding, “This enables us to make a crucial contribution to enhancing the circular economy – and serves as a role model for other material flows as well.”
Roland Harings, CEO of Aurubis AG, says, “A world that needs more raw materials requires more capacities, as well as technologies to recycle these raw materials from products at the end of their respective lifespans. With Cablo GmbH, we will increase the volume of input materials on the one hand and create new solutions for the accumulated plastic materials on the other.”
He adds, “Ultimately, the purpose of Cablo GmbH is to strengthen the circular economy with the know-how of both companies and to contribute to the European Green Deal.”
The closing of the transaction is planned for early June of this year.
Aurubis Senior Communications Manager Malte Blombach told Recycling Today in mid-March that consolidating operations can present cost-saving opportunities, commenting, “The primary objective of the JV is to use the existing capacities of the partners and achieve synergies.”
She also said that Cablo was in the process of expanding its wire processing capacity. “At the TSR site in Gelsenkirchen, a second production line is currently under construction and will extend already existing capacities,” she noted in mid-March.
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Source: Recycling Today
EU clears Aurubis and TSR joint venture
<![CDATA[The European Commission has issued merger control clearance for the planned joint venture between Aurubis AG, headquartered in Hamburg, Germany, and TSR Recycling GmbH & Co. KG, headquartered in Lunen, Germany. In November of last year, the two companies announced they would form a joint venture to unite the Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH in Fehrbellin, Germany, with TSR’s cable recycling operation in Gelsenkirchen, Germany, to recover copper granules and plastics.Cablo GmbH, the new joint venture, is 60 percent owned by TSR and 40 percent owned by Aurubis. All the employees of Aurubis subsidiary Cablo in Fehrbellin and the employees at TSR’s cable preprocessing site in Gelsenkirchen will be part of the new joint venture.Cablo 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, recovering different qualities of copper granules.Bernd Fleschenberg, chief operating officer of TSR, says, “By bundling the cable recycling expertise of Aurubis and TSR, we’re fully focusing on preprocessing cable in this joint venture, particularly copper cable with a broad range of…