Emirates Global Aluminium have announced the completion of the acquisition of a majority stake in American aluminium recycling firm Spectro Alloys Corporation.
The acquisition means that EGA now has production on four continents, from bauxite mining to aluminium recycling.
Spectro Alloys adds to EGA’s existing business in the United States with domestic metal production. In 2023, EGA sold approximately 550 thousand tonnes of primary aluminium in the country.
EGA has acquired 80 per cent of Spectro Alloys, with the company’s owner-managers retaining a 20 per cent shareholding.
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: “Aluminium is an essential material for the development of a more sustainable society, and demand for low carbon primary and recycled aluminium will grow significantly over the decades ahead. Developing a global business in recycling is a key strategic priority for EGA. We are taking rapid and decisive action, now with recycling operations in both the United States and Europe and our greenfield plant in the UAE progressing well. I welcome our new colleagues in Minnesota to EGA.”
Luke Palen, President of Spectro Alloys, said: “Becoming part of EGA is an exciting new chapter in Spectro Alloys’ five decades-long journey. EGA’s global resources and strength in marketing aluminium in the United States will accelerate Spectro’s growth. We are now well-placed to develop even further as a leading recycling company, serving our customers even better, creating more job opportunities for people in Minnesota, and contributing to the production of aluminium products that are both environmentally responsible and Made in America.”