Kazakhmys to sell German copper plant

Kazakhmys to sell German copper plantHAMBURG June 28 (Reuters) – Kazakhstan-based metals group Kazakhmys PLC (KAZ.L: Quote) is in talks to sell its German copper products unit Mansfelder Kupfer und Messing (MKM), a German newspaper reported on Monday.

Talks are underway with several potential investors, MKM chief executive Friedrich Flemming told the daily Mittledeutsche Zeitung.

He did not name the interested companies but said they were industrial groups.

Kazakhmys had taken over MKM in 2004. The German company produces a range of copper products including copper strips, wire, tubes and bars.

Annual output of about 200,000 tonnes goes to a wide range of customers including the construction and engineering industries.

No one was immediately available at the company for comment.

Flemming told the newspaper the sale was being made as Kazakhmys had made a decision to concentrate on its mining and primary copper production rather than downstream product output.

He said MKM was in a healthy commercial state with good order books.

Recent short-time working had been ended, he said. The company has 1,050 employees and its main plant is in Hettstedt in east Germany.

MKM achieved annual turnover of about one billion euros depending on copper prices, he said.

(Reporting by Michael Hogan; Editing by Keiron Henderson)

http://af.reuters.com/article/metalsNews/idAFLDE65R0VE20100628?sp=true

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