Metal Exchange Corporation (MEC) has announced a new joint venture with Novellini Industries; located in Mantova, Italy. The newly formed company called novALmec will enhance its aluminium billet supply capability to the European market.
Metal Exchange Corporation, a privately owned business at St. Louis, Missouri has a worldwide procurement network in aluminium scrap markets. They remelt aluminium scrap and cast into billets. The company has four decades of expertise in billet casting, sales and marketing in the US.
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Novellini, on the other hand is contributing its 22,000 tonne state-of-the art foundry for the production of secondary aluminium billets and its upstream scrap processing facility and its solid customer base towards the joint venture.
The joint venture company will have a combined billet casting capacity of 33,000 tonnes and the added production is scheduled to be operational from early 2020’s.
“The combined capability that the partners bring to novALmec along with the expanded capacity provides a strong supply offering to serve our current and potential customers,” said Friedhelm Grobler, Managing Director with Metal Exchange International-Zurich.
Rick Merluzzi, President and Chief Operating Officer of Metal Exchange Corporation added, “This is an important investment to strengthen the MEC European market position and it is part of our overall global strategy.”
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