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Wieland-Werke AG Acquires GBC

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Global Brass and Copper, Schaumburg, Ill., has agreed to a merger agreement with Germany’s Wieland-Werke AG. The German company has been a global leader in the brass and copper industry for more than 200 years.

Weiland will acquire all of the outstanding shares of GBC in an all-cash transaction. GBC shareholders will receive $44 per share in cash, representing a 27 percent premium to GBC’s closing price on April 9. The transaction is expected to close in the second half of the year and is subject to regulatory approvals.

"The combination of these two complementary leaders will allow us to more efficiently serve our customers now and well into the future. Equally as important, our collective dedication to safety, R&D, innovation and value creation will benefit our customers and create unique opportunities for the new organization,” said John Wasz, GBC's president and CEO.

Global Brass & Copper operates three separate business units, including service center company A.J. Oster, bar rod manufacturer Chase Brass and sheet, strip, foil, tube and fabricated components manufacturer Olin Brass.

The companies claim the transaction brings together two highly complementary companies with diverse product offerings across copper and copper alloy strip and sheet, rod, foil, wire, tube and fabricated components. The companies serve a wide variety of industries and creates a truly unique global leader in the red metals industry ideally suited to create customer value in North America, Europe and Asia, executives said.

The combined business will possess a leading manufacturing, service and distribution network consisting of more than 90 facilities, and will share best practices to enhance all aspects of operational excellence and create a superior supply chain, executives said. Further, the company will be better positioned to benefit from a number of megatrends, including eMobility, connectivity, sustainability, and recycling.

"The combination of two companies with very complementary strengths and geographical footprints will enable us to provide long-term supply security for our increasingly global customers who need a reliable partner to enable their growth. Building on a strong strategic and cultural fit, the newly formed team will empower our customers' and employees' success, globally,” Erwin Mayr, CEO of Wieland-Werke AG said.

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