1987-2004: International expansion and focus

1987

Subsequent to an agreement between SMI and Pechiney, LMI-La Metalli Industriale S.p.A acquires 100% control of Tréfimétaux SA, the biggest French manufacturer of semi-finished copper and copper alloy products. Following the acquisition of Tréfimétaux, LMI-La Metalli Industriale S.p.A. changes its company name to Europa Metalli - LMI S.p.A. SMI also takes the decision, via Europa Metalli-LMI, to acquire 90% of the Spanish company SIA - Sociedad Industrial Asturiana, which was previously fully owned by Banco de Bilbao y Vizcaya.

1990-91

Via its subsidiary Europa Metalli-LMI, SMI acquires from MAN a 76.9% share of KM - Kabelmetal AG, the biggest German manufacturer of copper and copper alloy intermediate goods.

1995

Following a wide ranging restructuring of its financial and industrial assets, the SMI Group (now KME Group SpA) decides to centralise the management of all its European industrial activities in a single company located in Germany. This decision led to the establishment of KM Europa Metal AG (of which SMI holds a 73% share) which owns 100% of the Group’s industrial activities in Germany, France, Italy and Spain. Thanks to a 50% joint venture agreement, KME and the Finnish group Outokumpu establish a new company, LOCSA (LAMINADOS OVIEDO-CORDOBA S.A.) in Oviedo (Spain), for the manufacture of rolled products.

1996

Liquidation of the Group’s share in AFICA S.A. (Affinage Champagne Ardenne - Reims) and its subsidiary FAVI. End 1997 – Beginning 1998 Shutting down of the Italian plant at Brescia and transfer of production capacity (mainly copper tubing) to Serravalle Scrivia (Alessandria) and other Group companies.

1999

SMI, via its subsidiary Finmetal, launches a residual public purchase offer for all KME shares still in circulation, thus increasing its own share to 98.17%. In order to reinforce its presence on the international market, SMI decides to enlarge its reach in the Far East by creating, via its subsidiary KME AG, the company KME Metals Dongguan Ltd, for the production of copper and copper alloy rolled products. During the same year, the Group’s French subsidiary Tréfimetaux (now KME France Sas) establishes, as a joint venture with a local manufacturer, Changzhou KME Copper Tube Co. Ltd. for the production of copper tubing. TMX retains 75% of the new company’s shares.

2001

Closure of the French brass rod plant at Point-de-Cheruy and transfer of its production to the Boisthorel and Serravalle Scrivia plants.

2002

The board of KME approves a squeeze-out of the minority shares of its capital, which are transferred to SMI’s portfolio, already in possession of 99.6% of the company. Via its subsidiary KME, the Group acquires the copper tubing activities of the British IMI Plc, Yorkshire Copper Tube Ltd (now part of KME Yorkshire Ltd). With the aim of focussing its activities, KME cedes 100% of the capital of its Spanish subsidiary SIA Copper Sa Oviedo, as wire rod is not one of the Group’s core activities.

2003

Merger of Stolberger Metallwerke GmbH & Co. KG with KME

2003/2004

The Group focuses its industrial activities on the rolled products, tubing and special products sectors, and exits from superconductors: an agreement is signed with the Finnish group Outokumpu, under the terms of which the Group cedes its superconductor production in Italy to Outokumpu as well as its production of copper tubing for air conditioning systems in China (Changzhou), receiving in return a 50% share of the Spanish LOCSA - Laminados Oviedo Cordoba SA, which was previously equally owned by the two Groups. Sale of the Group’s subsidiary KME Schmöle GmbH, a manufacturer of finned tubes and heat exchangers, which is not one of the Group’s core activities.