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Elcowire to acquire KME’s rod/wire assets in Germany, deal will double its capacity

1/3/2022 – Sweden’s Elcowire reports at its website that the company has entered into an agreement to acquire KME’s rod and wire assets and business located in Hettstedt, Germany, with 180 employees.

“For Elcowire this means doubling the capacity to 300,000 metric tons for copper rod and adding a large share of the market with a wide range of capabilities for wire and strands solutions,” the company stated. It noted that the deal will strengthen Elcowire and give access to a larger customer base and product portfolio, as well as expand the geographical coverage.

“The acquisition has a perfect strategic fit and will add capacity and capability for a wider product range as well as being able to serve a larger market with our solutions, which substantially will contribute to lower the CO2 footprint,” Elcowire Group CEO Paul Gustavsson said.

Together with the acquisition and the current operations in Sweden and Germany, Elcowire will be a much stronger player in the rod and wire business and be able to build further on its value-added offering in Elcowire’s other business units (high voltage, rail and specials).The closing of the transaction is subject to regulatory approval.

Elcowire is one of the leading suppliers in Europe, developing products and services based on copper and aluminum wire rod for the electrical and infrastructure industry. Operations are located in Sweden and Germany. Elcowire consists of four business units: Rod, Rail, High Voltage and Specials. Elcowire, which employs 200 people, is one of seven businesses owned by the Liljedahl Group.

The KME Group was described as one of the world’s largest manufacturers of copper and copper alloy products and high-performance copper and copper alloy special products.

Read 1058 times Last modified on January 4, 2022