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Aurubis AG: Cablo GmbH - EU clears Aurubis and TSR joint venture

DGAP-News: Aurubis AG / Key word(s): Joint Venture Aurubis AG: Cablo GmbH - EU clears Aurubis and TSR joint venture 22.04.2021 / 11:15 The issuer is solely responsible for the content of this announcement. Press Release

Cablo GmbH: EU clears Aurubis and TSR joint venture

- Commission clearance enables formation of the joint venture (TSR 60 %, Aurubis 40 %)

- Cablo GmbH will sustainably close material cycles ("closing the loop") and further develop special cable recycling processes

Hamburg/Lünen, April 22, 2021 - Today, the European Commission issued merger control clearance for the planned joint venture of Aurubis AG (Aurubis) and TSR Recycling GmbH & Co. KG (TSR). In November 2020, the two companies announced their intention to form a joint venture to unite the cable dismantling activities of Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH in Fehrbellin (Cablo) and those of TSR in Gelsenkirchen with the objective of recovering copper granules and plastics.

The joint venture will go by the name Cablo GmbH. TSR will hold 60 % of the joint venture as a partner, Aurubis AG 40 %. All of the employees of Aurubis subsidiary Cablo in Fehrbellin, located in the German state of Brandenburg, and the employees working in cable pre-processing at the TSR site in Gelsenkirchen, located in the German state of North Rhine-Westphalia, will be part of the new joint venture.

Cablo has specialized in recycling copper and aluminum cable since 1949 and produces a wide variety of metal granules. The company also fabricates plastic products from cable insulation. The TSR branch in Gelsenkirchen operates two cable granulators and processes various types of cable, likewise recovering different qualities of copper granules.

Bernd Fleschenberg, COO of TSR: "By bundling the cable recycling expertise of Aurubis and TSR, we're fully focusing on pre-processing cable in this joint venture, particularly copper cable with a broad range of qualities. We are hoping for an even stronger boost in the quality of pre-processing, because copper and plastic recycling makes a significant contribution to protecting resources and the climate. Together, we're in a position to close material cycles along the entire value chain even more effectively in this sub-segment. This enables us to make a crucial contribution to enhancing the circular economy - and serves as a role model for other material flows as well."