According to a report on Friday, March 31, German aluminium company Speira has expanded its aluminium recycling capacity by two-fold to 650,000 tonnes as it completes the acquisition of Real Alloy Europe. This capacity boost will help the company use more recycled metal to make low-carbon rolled aluminium products.
The acquisition includes three aluminium and magnesium recycling facilities in Germany and an aluminium recycling plant and a salt slag recycling facility in Norway, said Speira in a statement.
Speira first announced the signing of a definitive agreement to acquire the European business of Real Alloy on February 21, 2022.
Speira’s chief executive Einar Glomnes said, "Today marks a milestone on Speira´s transformation journey to becoming a leading aluminium rolling and recycling company and accelerates the decarbonisation of our business.”
Speira, owned by private equity firm KPS Capital Partners, won EU antitrust approval for buying aluminium recycler Real Alloy Europe with an offer to sell two plants to address EU concerns. Plans to divest Real Alloy facilities in France and Britain are likely to take place in early Q2 2023, said the company’s statement.
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