Germany-based Aurubis AG and TSR Recycling GmbH & Co. announced that they have signed a joint venture agreement to boost cable recycling.
Further to the agreement, the two companies have agreed to unite the cable dismantling activities of Aurubis subsidiary Cablo Metall-Recycling und Handel GmbH, Fehrbellin and those of the TSR wire chopping site in Gelsenkirchen. The transaction has not been finalized yet and is being reviewed by the German antitrust authorities. The companies expect it to close by end-April this year.
As per the deal, TSR will hold 60% stake in the joint venture company, in addition to managing it from an operational perspective. Aurubis will hold 40% stake. All employees at the Aurubis and TSR plants, to be merged, will be part of the new venture.
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