Press release: EU clears Aurubis and TSR joint venture
Cablo GmbH: EU clears Aurubis and TSR joint venture
- Commission clearance enables formation of the joint venture (TSR 60 %, Aurubis 40 %)
- Cablo GmbH will sustainably close material cycles (“closing the loop”) and further develop special cable recycling processes
Hamburg/Lünen, April 22, 2021 – Today, the European Commission issued merger control clearance for the planned joint venture of Aurubis AG (Aurubis) and TSR Recycling GmbH & Co. KG (TSR). In November 2020, the two companies announced their intention to form a joint venture to unite the cable dismantling activities of Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH in Fehrbellin (Cablo) and those of TSR in Gelsenkirchen with the objective of recovering copper granules and plastics.
The joint venture will go by the name Cablo GmbH. TSR will hold 60 % of the joint venture as a partner, Aurubis AG 40 %. All of the employees of Aurubis subsidiary Cablo in Fehrbellin, located in the German state of Brandenburg, and the employees working in cable pre-processing at the TSR site in Gelsenkirchen, located in the German state of North Rhine-Westphalia, 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, likewise recovering different qualities of copper granules.
Bernd Fleschenberg, COO of TSR: “By bundling the cable recycling expertise of Aurubis and TSR, we’re fully focusing on pre-processing 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 pre-processing, because copper and plastic recycling makes a significant contribution to protecting resources and the climate. Together, we’re in a position to close material cycles along the entire value chain even more effectively in this sub-segment. 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.”
“I emphatically welcome the decision made by the European Commission today, which directly supports Aurubis’ recycling strategy,” affirms Roland Harings, CEO of Aurubis AG. “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 continued: “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. The management of the future Cablo GmbH will consist of three members.
Best regards Aurubis AG
Corporate Communications / Konzernkommunikation Daniela Kalmbach Head of Corporate Communications Tel.:+49 40 7883-3053 Mobile: +49 174 6389167
TSR Recycling GmbH & Co. KG
Communications & Marketing Phone +49 2306 106-3916