Wieland Group will strengthen its position as Europe's largest semi-finished copper products producer by acquiring Aurubis' rolled-products division later this year, yet the deal is intended to kickstart growth in the US and Asian markets, chief executive officer Erwin Mayr told Metal Bulletin.
The two German companies said they were in talks over the acquisition, which will see Wieland take on a ?,?1.3 billion ($1.6 billion) revenue business unit that produced 230,000 tonnes of copper products across plants in the US, the Netherlands, Finland and Germany, last week.A 198 year-old, family-owned company, Wieland is embarking on an ambitious phase of growth and is eyeing further acquisitions outside of Europe - particularly in Asia and the US where it sees brighter demand prospects than on home turf."We're continuously looking at Asian opportunities and we are in several discussions along that path," Mayr said, noting China...