Aurubis, Europe's largest copper producer, plans to eschew large acquisitions and instead focus on organic growth by building a global network of recycling facilities, according to the company's CEO.
The CEO, Roland Harings, stated that Aurubis does not have any viable takeover targets that would fit its strategy, so the company will need to grow organically. The company's first project outside of Europe is a $700 million recycling facility in Augusta, Georgia, which will have an initial capacity of 90,000 metric tons per year, expandable to 180,000 metric tons in a second phase.
Harings described this Georgia facility as a "cookie cutter approach" that the company intends to replicate in other regions, as recyclable materials are available in many parts of the world. The CEO mentioned possible future growth into Asia or Africa, though no specific plans have been finalized.While Aurubis is not pursuing large acquisitions, the CEO said the company would consider acquiring smaller recycling companies similar to its 2020 purchase of the Belgian-Spanish metal recycling group Metallo, which Harings described as a successful acquisition.
Overall, Aurubis is shifting its focus to organic growth and building out a global network of recycling facilities, rather than relying on major acquisitions to drive its expansion strategy.
