|  

European Commission clears Aurubis/TSR cable recycling joint venture


Creating new solutions for the plastic waste from
cable recycling is one of joint venture's aims
23.04.2021 − 

The European Commission has approved the creation of a joint venture by the primary and secondary copper producer Aurubis and the metals recycler TSR, a subsidiary of Remondis, Germany’s largest waste management group. The joint venture will combine the cable recycling activities of the Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH based in Fehrbellin and TSR’s cable recycling activities located in Gelsenkirchen. The Commission’s Competition Directorate concluded that the proposed acquisition would raise no competition concerns, "because the overlaps between the activities of the companies are limited and the risk of foreclosure is low".

The joint venture, which will be named Cablo GmbH, will be majority-owned by TSR Recycling GmbH & Co. KG. TSR will also be responsible for the company’s operational management. Aurubis will own the remaining 40 per cent. The transaction is expected to be completed in early June.

Aurubis and TSR aim for higher quantity and quality

"I emphatically welcome the decision made by the European Commission today, which directly supports Aurubis’ recycling strategy," commented Roland Harings, CEO of Aurubis AG. "A world that needs more raw materials requires more capacities as well as technologies to recycle these raw materials from products at the end of their respective lifespans". He said that Cablo GmbH would both raise the amount of input material and "create new solutions" for the plastic insulation materials.

TSR’s COO Bernd Fleschenberg also welcomed the EU Commission’s decision, and said that the joint venture would be fully focused on pre-processing cables, in particular copper cables 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," Mr Fleschenberg said.

previous − Remondis and Verallia found glass recycling joint venture in Germany

Paprec, Schwarz Group and Remondis bid for Cespa  − next