# Cosmos Aluminum merges with ETEM

Cosmos Aluminum SA has merged with ETEM AE, with Cosmos absorbing ETEM. Cosmos holds 85% and ETEM/ELVAL HALCOR 15%. The combined company has a capacity of over 70,000 tonnes of aluminum and annual turnover of €300 million.

- Type: Acquisition
- Announced: 2023-04-06
- Where: Larissa, Greece
- Jobs: 500
- Status: completed
- Capacity: 70,000 tonnes of aluminum per year
- Products: aluminum extrusions, architectural systems
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Etem Group](https://endata.com/companies/53502.md) (target)
- [Cosmos Aluminum](https://endata.com/companies/69599.md) (acquirer)
- [ELVAL HALCOR](https://endata.com/companies/69600.md) (investor)
- [ELVAL HALCOR](https://endata.com/companies/69600.md) (partner)
- [ETEM AE](https://endata.com/companies/69606.md) (target)

## Sources

- [cosmosaluminium.gr](https://www.cosmosaluminium.gr/en/etem-sa-merges-with-cosmos-aluminum-sa-marking-a-major-shift-in-the-aluminum-industry/), 2023-04-06: "Today, Thursday, April 6, 2023, at COSMOS Aluminum SA premises in Larissa, the final Merger Agreement was signed and completed the previously announced and promising merger between COSMOS Aluminum AE and ETEM AE."
- [etem.com](https://etem.com/en/generic-news/etem-sa-merges-cosmos-aluminum-sa-marking-major-shift-aluminum-industry), 2023-04-06: "the final Merger Agreement was signed and completed the previously announced and promising merger between COSMOS Aluminum AE and ETEM AE with simultaneous absorption of the second from the first one."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.