STOCKHOLM, March 2, 2022 /PRNewswire/ -- Elcowire Group has completed the acquisition of KME's copper wire rod, wire and strands business in Hettstedt, Germany, doubling its production capacity to 300,000 tonnes per year.
Elcowire, which has streamlined its operations during the pandemic, divesting its China operations and relocating and closing its Mannheim production, is taking a major step to become a significant supplier of copper wire rod in Europe.
Elcowire, which has enjoyed profitable growth throughout the pandemic, sees great opportunities in the increasing need for its products for the transition to renewable energy and electrification.
With this acquisition, Elcowire will have access to greater capacity, a broader product portfolio and greater market coverage. A part of the new business and operation will be formed into a new business unit: Wire & Strands joining the already existing ones: Rod, Rail, High Voltage and Specials.
"Today we not only welcome 190 new team members in Hettstedt, Germany, but also expand our platform adding the capacity and capability for a wider product range as well as being able to serve a larger market geographically with our solutions. This will contribute substantially to lower the CO2 footprint," says Paul Gustavsson, CEO Elcowire Group.
For more information contact:
Paul Gustavsson / CEO Elcowire Group,
+46(0)72-555 29 00
paul.gustavsson@elcowire.com
About Elcowire Group:
We are one of the leading suppliers in Europe, developing products and services based on copper and aluminum wire rod for the electrical and infrastructure industry. Operations are located in Sweden and Germany. Elcowire consists of five business units: Rod, Rail, High Voltage, Specials and Wire & Strands. We employ 400 people and our headquarters are located in Helsingborg, Sweden.
About Liljedahl Group:
Elcowire Group is one of seven wholly-owned holdings of the family-owned Liljedahl Group. Liljedahl Group is also the largest owner of the listed company Bufab AB (publ). The Group has 1 500 employees and a turnover of SEK 15,7 billion. www.liljedahlgroup.se/en
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https://news.cision.com/elcowire-group-ab/r/elcowire-has-completed-the-acquisition-of-kme-s-rod-and-wire-business,c3517246
The following files are available for download:
https://mb.cision.com/Main/17578/3517246/1543154.pdf | Press release (PDF) |
