"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,” said Chief
Executive Einar Glomnes.
Speira, which is owned by private equity firm KPS Capital
Partners, had won EU antitrust approval for the deal by
addressing competition concerns with an offer to sell two
plants.
Plans to divest Real Alloy facilities in France and Britain
are expected to take place early in the second quarter, the
company's statement said.
(Reporting by Eric Onstad and Pratima Desai
Editing by David Goodman)
(Clarifies Speira is a company in the first paragraph)
LONDON, March 31 (Reuters) - German aluminium company
Speira has more than doubled its recycling capacity to 650,000
tonnes with completion of its acquisition of Real Alloy Europe,
the company said on Friday.
Speira, which owns the world's largest rolled aluminium
finishing mill in Germany, said the capacity boost increases its
ability to use recycled metal to make low-carbon rolled
aluminium products.
The acquisition announced in February last year adds 350,000
tonnes of recycling capacity, the company told Reuters.
It includes three aluminium and magnesium recycling
facilities in Germany as well as an aluminium recycling plant
and a salt slag recycling facility in Norway, Speira said in a
statement.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.