Nexans sells German metallurgy business to Mutares

Nexans has signed an agreement to sell Nexans Metallurgie Deutschland GmbH (NMD), a Nexans company specialized in oxygen free copper drawing to Mutares SE & Co. KGaA.

Nexans NMD employs 250 employees and has two manufacturing sites located in Bramsche and Neunburg, Germany. It serves major first and second tier customer base for automotive, white goods and general industrial applications.

Mutares is a listed company on Frankfurt Stock Exchange that acquires and actively develops industrial medium sized companies and operations of large corporations .

This transaction is expected to close in Q3 2020.

Source: Cable Technology News www.cabletechnologynews.co.uk