EU Competition Authority approves takeover of MKM by KME
Hettstedt, 12/12/2018. The European Commission has unconditionally approved the proposed takeover of MKM by KME in accordance with the EU Merger Regulation. The Commission came to the conclusion “that the acquisition would not raise any concerns from the perspective of competition law in the European Economic Area or in any substantial part of it”. MKM CEO Roland Harings commented as follows: “We are confident that the merger of MKM and KME will bring significant benefits, not only for us but also for the entire market and particularly for our customers. MKM will become an integral part of the Group. With targeted facilities working in a strong production alliance, pooled research and development expertise and a global presence in all markets, we intend to build a strong company which will play a leading role in international competition. Together we can exploit the positive synergies of the alliance and offer safe, attractive jobs.”
With production facilities in Europe, Asia and the USA, KME SE is one of the world's largest manufacturers of copper and copper alloy products for innovative and intelligent product solutions. Sales are carried out via a worldwide sales network, tailored to the individual requirements of each customer. KME SE, owned by IntekGroup Spa, is managed by an European executive team. KME Mansfeld GmbH plays a significant role in KME's technological leadership in copper and brass semi-finished products. KME manufactures a comprehensive portfolio of wires, strips, tubes, rods and sheets at its Hettstedt site.