EGA announces the acquisition of recycled aluminum producer, Leichtmetall

Emirates Global AluminumThe world’s largest producer of ‘premium aluminum’, today announced the signing of a binding purchase and sale agreement for the acquisition of a German aluminum recycling company. Leichtmetall Aluminum Giesserei Hannover GmbH.

metallic metal is a specialized European foundry, whose production includes hard alloys and larger diameter billets with high proportions of secondary aluminum.

EGA is to acquire 100 percent of the company Leichtmetall Holding GmbH, a subsidiary of an investment fund managed by Quantum Capital Partners GmbH. The transaction is expected to close during the first half of 2024, subject to obtaining regulatory approvals.

The company uses patented inductive melting technology, liquid metal treatment and casting processes developed over more than four decades to manufacture scrap metal of very high quality and specification products used in demanding applications. Leichtmetall Production consists primarily of hard alloy billets up to 1,150 millimeters in diameter, and uses include the manufacture of high load-bearing extruded profiles and large forged components.

metallic metal It has clients throughout Europe, and particularly in Germany, Italy and France.

Abdulnasser bin Kalban, CEO of Emirates Global Aluminum (EGA), highlights the importance of the acquisition of Leichtmetall, which strengthens EGA’s presence in Europe and aligns with its objective of contributing to the circular economy. The acquisition positions EGA to expand globally in low-carbon primary and recycled aluminum, with the goal of achieving net zero greenhouse gas emissions by 2050.

Adel Abubakar, Marketing Director of EGA, highlights how Leichtmetall complements EGA’s capabilities to meet European demand for aluminum and reduce carbon emissions.

Thomas Witte, CEO of Leichtmetallanticipates growth opportunities and enhanced partnerships with EGA, benefiting new and existing customers.

Steffen Görig, CEO of Quantum Capital Partners GmbH (QCP), expresses confidence in EGA’s ability to elevate Leichtmetall’s business and recognizes its transformative journey under QCP ownership.

The historical transaction is EGA first major acquisition since EGA was formed through the merger of Dubai Aluminum and Emirates Aluminum a decade ago.
Leichtmetall uses renewable energy at its plant in Hanover, Germany, to produce up to 30,000 tonnes per year of aluminum billets with 80 percent secondary aluminum as the input material.

News source: Emirates News Agency