Nexans sells German Metallurgy Business to Mutares
PRESS RELEASE
Nexans sells German Metallurgy Business to Mutares
- 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.
About Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (), acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company. In 2019, Mutares’ portfolio companies generated consolidated revenues of EUR 1,016 million and employed more than 6,500 people worldwide. The shares of Mutares SE & Co. KGaA are listed on Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A2NB650).
About Nexans
Nexans is a key driver for the world’s transition to a more connected and sustainable energy future. For over 120 years, the Group has brought energy to life by providing customers with advanced cable technologies for power and data transmission. Today, Nexans goes beyond cables to offer customers a complete service that leverages digital technology to maximize the performance and efficiency of their critical assets. The Group designs solutions and services along the entire value chain in four main business areas: Building & Territories (including utilities and emobility), High Voltage & Projects (covering offshore wind farms, subsea interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, oil and gas, automation, and others).
Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables also drives its active involvement within leading industry associations, including Europacable, the NEMA, ICF and CIGRE.
Nexans employs nearly 26,000 people with an industrial footprint in 34 countries and commercial activities worldwide. In 2019, the Group generated 6.7 billion euros in sales.
Nexans is listed on Euronext Paris, compartment A.
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| Aurélia Baudey-Vignaud Tel: +33 (0)1 78 15 03 94 e-mail : | Catherine Garipoglu Tel: + 33 (0) 6 08 68 83 68 e-mail: |
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