An agreement between ELVALHALCOR and “Koramic Holding S.A. was signed to acquire via a capital increase 50% of “Nedzink B.V.”


The company “ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A.” (former “HALCOR METAL WORKS S.A.”, hereinafter “ELVALHALCOR”) announces to the investors that yesterday, on 03/01/2018, an agreement between ELVALHALCOR and the non-listed company “Koramic Holding S.A.”(hereinafter “Koramic”) based in Kortrijk, Belgium, was signed to acquire via a capital increase 50% of the capital of the foreign non-listed company with the trade name “NEDZINK B.V.”, which is seated in Budel, the Netherlands (hereinafter “NedZink”). According to the agreement, ELVALHALCOR will contribute approximately Euro 15 million. These funds shall be used to finance part of a Euro 20 million investment program at NedZink - the balance of the investment shall be financed by NedZink.
NedZink is operating since 1973 in the rolling of titanium zinc originally with the trade name "Kempensche Zinc Company”. In 1995 the production of titanium zinc was acquired by Koramic and the plant in Budel Dorplein was renamed to “NEDZINK BV”. The production is located in the city of Budel-Dorplein in the Netherlands, the capacity is 24 thousand tons, which NedZink sells through its sales network in the Netherlands, Belgium, Germany, and France, and many other countries as well. ELVALHALCOR is operating in the production of titanium zinc since 2004, originally at former HALCOR METAL WORKS S.A. facilities in Athens, and since 2011 through its subsidiary “SOFIA MED AD” in Bulgaria, until mid-2015, when SOFIA MED temporarily suspended the production.
The companies ELVALHALCOR and Koramic aim at creating a joint venture with the purpose to develop the production in the area of titanium zinc, by increasing the production capacity of NedZink’s lines and combining the long-term experience of NedZink in the zinc rolling with the one of ELVALHALCOR’s in continuous melting, casting and rolling of zinc as well as other metals. 
The aforementioned agreement of ELVALHALCOR – Koramic is subject to  regulatory approval of the competent competition authorities.