– Emirates Global Aluminium (EGA) plans to acquire an 80% stake in US aluminium recycling firm Spectro Alloys Corporation, with the deal expected to finalize by Q3 2024, pending regulatory approvals.

– The acquisition is part of EGA’s broader strategy to expand its presence in the aluminium recycling industry, following its recent purchase of European foundry Leichtmetall and the construction of the UAE’s largest recycling facility.

– EGA’s CEO, Abdulnasser bin Kalban, and Spectro Alloys’ President, Luke Palen, both emphasized that the acquisition will support growth and meet rising global demand for sustainable aluminium products.

Emirates Global Aluminium (EGA) has announced plans to acquire an 80% stake in the US-based aluminium recycling firm Spectro Alloys Corporation, with the existing owner-managers retaining a 20% share.

Both companies have signed an equity purchase agreement, with the deal expected to close by the third quarter of 2024, pending regulatory approvals.

This acquisition is set to boost EGA’s global expansion into aluminium recycling, enhancing its operations in the US, one of its key markets. Earlier this year, EGA acquired the European speciality foundry Leichtmetall and began constructing the UAE’s largest aluminium recycling facility.

EGA’s CEO, Abdulnasser bin Kalban, highlighted that this move aligns with EGA’s strategy to expand in both primary and recycled aluminium, meeting the rising global demand for sustainable metal.

Luke Palen, President of Spectro Alloys, emphasized that joining forces with EGA will propel the company’s growth in the rapidly expanding aluminium recycling industry. Spectro Alloys, serving over 125 clients primarily in the Upper Midwest and Texas, plays a significant role in the automotive, small engine manufacturing, construction, and recreational vehicle sectors.”