Aurubis is looking at acquisition opportunities in Asia and South America and has the financial flexibility to pay for purchases, Chief Executive Bernd Drouven told Reuters Television. "If we look at the copper primary production I think we have established already a sound basis in Europe. Therefore we would look at outside Europe," he said in an interview on June 23.
He said the company could pay up to around 777 million euros ($1.1 billion) for an acquisition, which is the price it paid to buy Belgian copper group Cumerio last year.
"In total that is an upper range. I think that is doable," Drouven said.
Shares of Aurubis rose 3.1 percent to 19.82 euros, while the German midcap index was up 0.7 percent. Drouven said demand for copper would likely be boosted by economic stimulus programmes. Demand copper wire rods had already picked up since April, and demand in the copper strip business would likely recovery by September, he said.
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