ULM, Germany — Wieland-Werke AG (“Wieland Group”) and Global Brass and Copper Holdings Inc. (the parent company of Chase Brass) have completed their previously announced merger.
The transaction has been completed as planned in the second half of 2019. Chase Brass in Holiday City will change its name to Wieland-Chase to reflect the merger.
On April 10, Wieland Group and Global Brass and Copper signed a merger agreement, in which Wieland Group acquired Global Brass and Copper. This agreement was subject to a number of closing conditions, all of which have now been met, including approval by Global Brass and Copper stockholders and antitrust clearances, and the acquisition has now been completed.
Upon closing, Global Brass and Copper became a wholly-owned subsidiary of Wieland Group, and each outstanding share of Global Brass and Copper common stock was converted into the right to receive $44 in cash.
The merger combines two highly complementary businesses with diverse product offerings across copper and copper alloy strip and sheet, rod, foil, wire, tube, fabricated components and engineered products.
Together, the combined company has a leading manufacturing, service and distribution network consisting of over 90 facilities and about 9,000 employees, serving a wide variety of industries, creating value to customers in North America, Europe and Asia and offering exciting growth opportunities for its employees.
The shared focus on safety and operational excellence, technology, R&D and providing innovative products, services and solutions will enable the new Wieland Group to collaborate in unique ways with customers worldwide.
In addition, the newly combined company will be even better positioned to contribute to a number of megatrends, including eMobility, connectivity, sustainability and recycling.