By Michael Hogan
HAMBURG, March 2 Aurubis AG, Europe's
biggest copper smelter, plans to expand into production of other
non-ferrous metals, new CEO Juergen Schachler said on Thursday.
He did not name specific metals, but told the group's annual
shareholders' meeting that Aurubis should become a "multi metals
He also said the group's new corporate strategy, dubbed
Vision 2025, could involve buying suitable non-ferrous metal
production companies. But the strategy will not include an
expansion into mining, said Schachler, who took over in July
Aurubis' last acquisition was in 2011 when it took over the
rolled copper operations of the Luvata group.
Aurubis should concentrate on its core expertise of metal
production, metal recycling and metal product production,
Schachler said in a speech to shareholders.
The group is already involved in gold, silver, nickel and
selenium production and these sectors could also be built up,
said Schachler. Traces of such metals are contained in copper
concentrates (ore) and scrap.
"We can and will expand this in the framework of our
metallurgy expertise," Schachler told shareholders. "We will
take a more consistent route away from copper towards becoming a
multi metals producer and we will establish ourselves a wider
He said the group would seek both "internal and external
growth," which "can include the expansion of existing capacity
or also acquisitions, when these in terms of content and
geography make sense and fit."
But it made "no sense" to become a mining company, he said.
"This is not part of our metallurgical expertise and we will not
do this," he said.
The group would concentrate on metal smelting and product
output. He gave no indication of which geographical areas could
be assessed for expansion.
Alongside major copper smelters in Hamburg and Luenen in
Germany, Aurubis also has copper and copper product activities
including in Bulgaria, Belgium, Italy, the Netherlands, Finland,
and the United States.
(Reporting by Michael Hogan; Editing by Victoria Bryan/Ruth