Osnabrück, 11th March 2019 – KME SE informs that it has signed an agreement with ECT - European Copper Tubes Ltd to purchase its 49% shareholding in Tréfimétaux SAS and, therefore, obtain again 100% control of such a company.
Tréfimétaux SAS is a French company that carries out its copper tubes and copper rods businesses respectively in its Givet and Niederbrück plants and controls Serravalle Copper Tubes S.r.l., an Italian company operating its copper tubes business in the plant located in Serravalle Scrivia. Their overall annual consolidated turnover as of 31st December 2018 is approximately euro 220 million with around 560 employees.
The acquisition price to be paid at closing is euro 2 million. The execution of the sale is subject to condition precedent.