FITCO MERGER ACTIONS HAVE STARTED
Dear Business partners,
With this letter, we would like to inform you regarding the upcoming new structure of HALCOR, namely, the merger by absorption of “FITCO S.A.” by the Copper Tubes division of ELVALHALCOR. Specifically, we announce that the Boards of Directors of the companies “ELVALHALCOR” and its 100% subsidiary, non-listed company “FITCO METAL WORKS SINGLE MEMBER S.A.” as per their decisions, on 14/5/2021, decided the commencement of preparatory activities for the merger by absorption of “FITCO” by “ELVALHALCOR”. The business transformation is scheduled to be completed in the second half of 2021. In the interim period, FITCO will continue to exist as entity and our collaboration remains unchanged. We will keep you updated on the progress.
The merger will capitalize on economies of scale, synergies and optimal utilization of productive and commercial potential, setting HALCOR as a leading global manufacturer in the international market of copper extrusion and copper alloys.
As we continue our continuous improvement programs of our services, kindly be informed that the contact details of the departments you work with remain the same and we are at your disposal for any support needed.
Yours in faith,
Lolos P. Kokkolis S.