Thyssenkrupp Partners with Mantro to Establish New Steel Recycling Joint Venture

SEATTLE (Scrap Monster): The Germany-based Thyssenkrupp’s subsidiary, Thyssenkrupp Materials Services announced partnership with Munich, Germany-based Mantro GmbH to set up a steel recycling project. The new joint venture named ‘MT Industry Recycling GmbH’ aims to boost the use of steel scrap in production process by the manufacturing industry.

In a new release on the joint venture project, Thyssenkrupp Materials Services noted that the project is based in the Ruhr area of Germany on the site of the former Zollverein coal mine in Essen, Germany. The joint venture aims to eliminate the intermediate step involving scrap dealers and promotes direct purchase of pure steel scrap from its recycling joint venture by steel mills and foundries across the country. It promises to guarantee comparatively lower purchase prices.

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The joint venture will handle waste products generated by metal processing companies. Meantime, it declined to provide estimates on the volume of scrap to be processed by the new project.

Incidentally, steel is the most effectively recycled material in the world. Almost 50% of the steel produced in the world uses recycled steel scrap as raw material. According to rough estimates, steel scrap consumption in Germany is estimated at around 20 million tons per year.