The Aurubis Buffalo plant on Military Road could change hands.
Its parent company, Germany-based Aurubis AG, said it is in "advanced talks" to sell its flat rolled products segment, which includes the North Buffalo brass and copper products plant.
Aurubis and Wieland-Werke AG, also based in Germany, have signed a term sheet covering elements of a possible sale.
"Aurubis AG's executive board sees the completion of the term sheet as an important intermediate step toward further negotiations and the sale of the (business segment)," Aurubis said in a statement.
The company said the transaction would be subject to usual conditions, including approval by antitrust authorities. A sale would cover Aurubis operations in the United States, Netherlands, Finland and Germany.
The North Buffalo plant has about 650 hourly and salaried employees. The facility opened in 1907 and for many years was known as American Brass. It has operated under different owners, including Atlantic Richfield, Outokumpu, Luvata and Aurubis. Local investors owned the plant during part of the 1980s.
Luvata sold the plant to Aurubis in 2011, as part of a broader deal.
The Wieland Group, which is family owned, bills itself as the world's leading supplier of semi-finished products made of copper and copper alloys.