KME and the owners of MKM agree takeover
- Binding acquisition agreement signed
- Takeover set to be completed in the forth quarter 2018
- Major synergies expected thanks to greater production site focus
Hettstedt, July 10, 2018. The KME Group, based in Osnabrück, and the owners of MKM Mansfelder Kupfer und Messing GmbH, headquartered in Hettstedt, have signed an acquisition agreement which provides for the complete takeover of MKM. As soon as the EU competition authorities and MKM’s financing partners have given their approval, the takeover – scheduled for the fourth quarter 2018 – will be concluded. The Hettstedt site will play a key role in the new network of production facilities. MKM has invested around € 80 million in the Hettstedt site since 2014, has upgraded various equipment and commissioned new production systems and processes. Last year, MKM – which has a 1,100-strong workforce – processed over 270,000 tons of copper and posted revenues of about € 1 billion. After the merger, the newly formed company will generate revenues of € 3 billion with around 4,900 employees.
Strong Partner for customers
MKM’s CEO Roland Harings indicated that the merged company “wants to become the preferred partner for customers in the copper market leading the way in terms of performance, service and quality.” The aim is to combine the strengths of both companies, adopting the best solutions and processes in the industry. Harings remarked: “Our customers will benefit and so will we. We will establish a stronger company together that will play a leading role on the international market.”
A company with global presence
In growth markets, such as e-mobility, renewable energies and energy distribution systems, being able to act as a global partner is vitally important. “It is a question of bundling research and development expertise to create new solutions, but also establishing a specialized, highly efficient mass production with an international presence,” underlined Harings. Acting as one, the merged company can provide the investment required, take advantage of synergies through greater production site focus and provide secure, 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.