HAMBURG (dpa-AFX) - Copper producer Aurubis AG (AIAGY.PK, AIAGF.PK) said that its Supervisory Board approved a resolution to release Executive Board Chairman Jürgen Schachler, whose contract expires at the end of the month, from his duties with immediate effect.
Roland Harings, currently still Deputy Executive Board Chairman of Aurubis, will take office as Executive Board Chairman on July 1, 2019.
Aurubis expects the current economic environment to strain the third-quarter of 2018/19 result and the full-year result.
The Supervisory Board and Executive Board of the company also approved a resolution to stop the internal investment project Future Complex Metallurgy or FCM. The basic engineering results indicated significantly higher investment costs than initially planned. Consequently, the project's accrued investment costs will strain the the third-quarter result in the amount of about 30 million euros.
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