German firm Speira closed on its purchase of Real Alloy Europe last week, doubling its recycling capacity to 650 thousand metric tons at the stroke of a pen.
The deal for three aluminium and magnesium recycling plants in Germany and an aluminium recycling plant and salt slag recycling plant in Norway closed on Friday. Already owner of the largest rolled aluminium finishing mill in Germany, Speira said the new capacity increase will enhance its ability to include recycled aluminium and other metals in its low-carbon rolled aluminium products. Currently Speira produces around a million metric tons of rolled aluminium products each year.
Chief Executive Einar Glomnes said in a press release that closing on the deal was of great importance to his firm.
“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.”
Real Alloy Europe employs about 600 workers across seven facilities in Great Britain, France, Germany, and Norway.
Speira went on to say that it would begin the process of selling off assets in Great Britain and France in the coming months. The deal would only pass muster from EU antitrust bodies by agreeing to sell the Speira plant in France and the Real Alloy Europe plant in Swansea, Great Britain.
