AURUBIS AG Press Release
Prysmian and Aurubis enter into long-term supply contract for copper wire rodHamburg |Tuesday, April 23, 2024
- The contract will secure strategically important copper raw materials in the long term with the highest environmental standards
Prysmian, world leader in the energy and telecom cable systems industry, and Aurubis, a leading global provider of non-ferrous metals and the largest copper recycler worldwide, have entered into a long-term contract for the supply of copper wire rod. According to the agreement, Aurubis will provide a significant and incremental year-over-year volume of copper wire rod.
This agreement with Aurubis, the largest European vertically integrated manufacturer of copper wire rod, will cover the supply particularly in Prysmian European plants, ensuring coverage of the current business and growth prospects.
"Our companies are connected by their strong commitment to integrating sustainability in our business strategies and our role as enablers of the energy transition and digitalization process,"
said Laura Colli, Chief Purchasing Officer, Prysmian.
"This contract stems from a more than 25-year strategic partnership between Prysmian and Aurubis distinguished by best-in-class performance when it comes to sustainability, product, delivery timing, and quality of service in the supply of a raw material that is becoming increasingly important for the future of Prysmian's business growth. Tomorrow Metals is our commitment to constantly creating more value with a smaller environmental footprint. Recycling is increasingly part of the solution, and we are investing heavily in this field. Nevertheless, responsibly sourced primary material will remain important in the accelerated growth phase needed to supply the green transformation with metals, Primary and recycling materials are a powerful duo, and we need both," said Martin Sjoberg, SVP Commercial at Aurubis.
This partnership is in line with Prysmian's ambition to be a global player with a leading role in the challenges of decarbonization. Prysmian is committed to an overall net-zero target along the entire value chain by 2050 and to reducing Scope 3 emissions by 28 % by 2030 compared to the 2019 baseline. Prysmian has also publicly disclosed an ambitious target related to the share of recycled copper content, with the goal of reaching 15-16 % by 2025.
"As market leader, Prysmian is dedicated to being at the forefront of the journey towards a fully sustainable business and is engaged in having a proactive role within its value chain and cooperating with the suppliers that could play a strategic part in this transition. Therefore, we trust in Aurubis products," said Maria Cristina Bifulco, Chief Investor Relations, Sustainability and Communication Officer, Prysmian.
Aurubis is pursuing a dedicated sustainability strategy and is committed to becoming carbon neutral well before 2050. The multimetal company produces copper with less than half the global average carbon emissions and intends to further reduce Scope 1 and Scope 2 emissions by 50 % and Scope 3 emissions by 24 % per ton of copper cathodes by 2030. The company offers comprehensive value chain solutions for the circular economy and produces rod with almost 40 % less CO2 than global average.
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Aurubis AG published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 09:19:07 UTC.
