Hydro completed the acquisition of Polish aluminium recycler Alumetal S.A. on June 30 by bagging more than 97 per cent of its shares through tender subscription. The purchase of Alumetal will strengthen Hydro's recycling position in Europe and widen low-carbon product offerings in the market.
This transaction is also a significant move towards Hydro's recycling ambition and its goal to enhance the use of post-consumer aluminium scrap by 2025 in a bid to reduce carbon footprint in metal industry.
Eivind Kallevik, Executive Vice President of Hydro Aluminium Metal, explained, "With this acquisition, Hydro and Alumetal will together become the leading integrated aluminium recyclers in Europe. This will enable us to offer more low-carbon and recycled aluminium products based on post-consumer scrap, further strengthening our commitment to enable our customer's to reach their sustainability goals. Bringing Alumetal into the Hydro family will also contribute to increased circularity in the aluminium value chain, fostering an increasingly circular economy in Europe."
While Hydro will increase its competence in the market recycling market through this acquisition, Alumetal will enter into the structure of one of the world's leading global aluminium companies.
Agnieszka Drzyżdżyk, President and CEO of Alumetal, said: "The acquisition shows how extraordinary the Alumetal team's efforts have been over the last 20 years, demonstrates our significant growth journey and intensive development within our organization. I am very proud of our employees and we look forward to an even more exciting future together with Hydro."
Hydro and Alumetal celebrated the completion of this transaction at Alumetal's headquarters in Kety, Poland, on July 10.
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