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Aurubis AG: Force majeure: Production at Aurubis Stolberg GmbH & Co. KG has to be stopped due to flooding

·3-min read

DGAP-News: Aurubis AG / Key word(s): Miscellaneous
16.07.2021 / 15:42
The issuer is solely responsible for the content of this announcement.

Force majeure: Production at Aurubis Stolberg GmbH & Co. KG has to be stopped due to flooding

Stolberg/Hamburg, July 16, 2021 - Early Wednesday evening, July 14, 2021, production at Aurubis Stolberg GmbH & Co. KG had to be stopped due to severe weather impacts. The plant was evacuated. No employees were injured.

In the early afternoon, it was already apparent that the situation was going to escalate, since strong rains had led to flooding in the entire valley where the Aurubis plant is located. The surrounding access roads and the entire downtown area nearby were flooded, in some cases washed away, and strongly impacted overall.

An initial damage assessment clearly indicates that the flooding has permanently affected the entire company premises and that restarting operations will require considerable efforts. Aurubis assumes that the damages are covered by the relevant insurance.

To Aurubis' deepest regret, the company currently cannot ensure the fulfillment of its delivery obligations, nor can it assess at the moment when production can restart.

Aurubis Stolberg has to declare force majeure. This means that delivery to customers and acceptance of incoming deliveries are impossible right now.

"The impacts of the severe weather on our plant in Stolberg are a shock to all of us," said Aurubis CEO Roland Harings. "We are very relieved that all of the employees are safe, and we express our thanks to those who are actively helping on site. We will do everything to rebuild the plant and to restart production as fast as possible."

Aurubis Stolberg is one of the leading European manufacturers of semi-finished products made of copper and copper alloys. About 400 employees produce high-precision strip and wire for industrial applications (electrical, electronics, automotive, engineering) from copper products on the global market. In the plant's own foundry, brass alloys are produced for wire manufacturing, as well as bronze and specialty alloys for pre-rolled strip.

Aurubis Stolberg is part of the reporting segment Flat Rolled Products (FRP). Revenues in the last fiscal year (2019/20) were € 228 million (Aurubis Group: € 12.4 billion). The 2019/20 IFRS annual result was € 6.9 million (Aurubis Group IFRS annual result: € 265 million).

Schwermetall Halbzeugwerk GmbH & Co. KG (50 % Aurubis AG) in Stolberg is not affected by the flooding because the site is located at a higher altitude.

 

Aurubis - Metals for Progress
Aurubis AG is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide. The company processes complex metal concentrates, scrap metals, organic and inorganic metal-bearing recycling materials, and industrial residues into metals of the highest quality. Aurubis produces more than 1 million tons of copper cathodes annually, and from them a variety of products such as wire rod, continuous cast shapes, profiles, and flat rolled products made of copper and copper alloys. Aurubis produces a number of other metals as well, including precious metals, selenium, lead, nickel, tin, and zinc. The portfolio also includes additional products such as sulfuric acid and iron silicate.

Sustainability is a fundamental part of the Aurubis strategy. "Aurubis responsibly transforms raw materials into value" - following this maxim, the company integrates sustainable conduct and business activities into the corporate culture. This involves a careful approach to natural resources, responsible social and ecological conduct in everyday business, and sensible, healthy growth.

Aurubis has about 7,200 employees, production sites in Europe and the US, and an extensive service and distribution system in Europe, Asia, and North America.

Aurubis shares are part of the Prime Standard Segment of the German Stock Exchange and are listed in the MDAX and the Global Challenges Index (GCX).

Further information at www.aurubis.com


16.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Aurubis AG

Hovestrasse 50

20539 Hamburg

Germany

Phone:

+49 (0)40 / 78 83 - 31 78

Fax:

+49 (0)40 / 78 83 - 31 30

E-mail:

a.seidler@aurubis.com

Internet:

www.aurubis.com

ISIN:

DE0006766504

WKN:

676650

Indices:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1219668


 

End of News

DGAP News Service

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