EU Competition Authority approves takeover of MKM by KME
Hettstedt, 12/12/2018. The European Commission has unconditionally approved the proposed takeover of MKM by KME in accordance with the EU Merger Regulation. The Commission came to the conclusion “that the acquisition would not raise any concerns from the perspective of competition law in the European Economic Area or in any substantial part of it”. MKM CEO Roland Harings commented as follows: “We are confident that the merger of MKM and KME will bring significant benefits, not only for us but also for the entire market and particularly for our customers. MKM will become an integral part of the Group. With targeted facilities working in a strong production alliance, pooled research and development expertise and a global presence in all markets, we intend to build a strong company which will play a leading role in international competition. Together we can exploit the positive synergies of the alliance and offer safe, attractive jobs.”
MKM is a global technology leader for copper and brass semis. The company has invested more than EUR 400 million since 1997. As a unique manufacturer in the world, MKM offers wire, strips, tubes, rods and sheets from a single source. In the past year, MKM processed more than 280,000 tons with a workforce of some 1,200 employees. Approximately 1,000 customers from 60 countries spread across the globe rely on MKM. This positions MKM as the global leader in the electronics and construction industry, the solar sector, plant engineering, the automotive industry, as well as the aerospace sector and in telecommunications.