Schüco is buying shares in the aluminium plant AWB Aluminiumwerk Berlin GmbH. The company’s press release reported about it.
AWB supplies the aluminium profiles Schüco International KG. Prior to the new deal, Austrian Metallinvest Holding GmbH and RSFB Technology Ges mbH controlled AWB. Following the transaction, Schuco will acquire a 26% stake, Metallinvest will have 24%, and RSFB’s share will remain unchanged at 50%.
Metallinvest Holding GmbH is part of the Russian metals giant, which is under US and UK sanctions.
Schuco plans to focus on optimising the plant’s sustainability. AWB will continue to use standard aluminium. However, it is planned to produce profiles with two new low-carbon aluminium grades: Low Carbon (LC) and Ultra Low Carbon (ULC).
The European Commission approved the deal as AWB remains a separate company. Management can sell products to other companies, not just Schuco.
Photo: Frank Peterschröder (с) Schüco International KG
(From left) Dr Walter Stadlbauer, COO/CTO Schüco, Andreas Engelhardt, Managing Partner of Schüco, Lázló Kálmán, Managing Director of Metallinvest Holding GmbH, and Reiner Bachnick, Managing Director of RSFB Technologie GesmbH & AWB Aluminiumwerk Berlin GmbH sign the contract documents in the Schüco Welcome Forum
Schüco acquires shares in its aluminium profile supplier
ID no: 22761
Oct 28, 2024
Nov 14, 2024
