Shearman & Sterling advised investment company Intek Group and its subsidiary KME Mansfeld GmbH, leader in the manufacturing of copper and copper alloys semifinished products, on the sale of the Wires business to the Swedish competitor Elcowire. The transaction is another important step forward in the execution of the KME’s announced group strategy. KME’s target is to focus on and strength further the rolled products business, selling all the non-core activities.
The Wires business recorded a turnover of around € 200 million in 2020 employing around 180 people in Hettstedt. The Wires business entered in KME Group as part of the acquisition of MKM Mansfelder Kupfer und Messing GmbH, completed in 2019 by KME, to acquire one of the major manufacturers in the rolled business in Europe.
Elcowire is one of the largest manufacturers in Europe of copper wire rod, wires, stranded conductors, profiles and overhead catenary systems made from copper, copper alloys, aluminum as well as aluminum conductors, rectangular wires and profiles for electrical purposes.