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Nexans sells German Metallurgy Business to MutaresJun 30, 2020
- A leading oxygen-free copper rod mill and drawing manufacturer for diversified industries with an annual capacity of 60,000 ton
- Strategic acquisition from Mutares to strengthen its existing portfolio
- Mutares will be better suited to further develop the activities
Paris, France, June 30, 2020 – Nexans announced the signing of an agreement to sell Nexans Metallurgie Deutschland GmbH (NMD), a Nexans company specialized in oxygen free copper drawing to Mutares SE & Co. KGaA.
Nexans NMD employs 250 employees and has two manufacturing sites located in Bramsche and Neunburg, Germany. It serves major first and second tier customer base for automotive, white goods and general industrial applications.
Mutares is a listed company on Frankfurt Stock Exchange that acquires and actively develops industrial medium sized companies and operations of large corporations.
This transaction is expected to close in Q3 2020.