ArcelorMittal To Acquire German Steel Scrap Recycling Facilities

This is the second major steel scrap acquisition by ArcelorMittal during recent times.

SEATTLE (Scrap Monster): Luxembourg-based steelmaker rcelorMittal signed an agreement with ALBA International Recycling to acquire its multiple steel scrap recycling facilities in Germany. The closing of the transaction, subject to customary closing conditions, is expected in the coming months.

The transaction covers a total scrap yards located in southern Germany, belonging to three affiliate companies- ALBA Electronics Recycling, ALBA Metall Süd Rhein-Main and ALBA Metall Süd. Together, the three facilities processes approximately 400,000 tonnes of material per annum, mostly steel scrap. The processed metal scrap and other materials are mainly shipped to metal producers across the globe.

This is the second major steel scrap acquisition by ArcelorMittal during recent times. Earlier in March this year, it had acquired Scotland-based John Lawrie Metals Ltd.

Commenting on the development, Geert Van Poelvoorde, CEO, ArcelorMittal Europe said that he is pleased to welcome the management teams and employees of all three companies to ArcelorMittal. Increasing scrap consumption in steelmaking and securing access to the metallics required for low-carbon steelmaking have been the company’s top priorities in its journey to cut carbon emissions by as much as 35% by 2030, he added.

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