Speira has announced that it has signed a definitive agreement to acquire the European business (“Real Alloy Europe”) of Real Alloy. Completion of the transaction is subject to customary closing conditions and approvals.
Speira claims customers will benefit from more high-quality products with a low carbon footprint. As part of Speira, Real Alloy Europe will continue to provide significant third-party recycling services to the European aluminium industry.
Real Alloy Europe is a leading European recycler of aluminium and magnesium scrap and related by products, with seven facilities and approximately 600 employees across Germany, Norway, France and the United Kingdom.
The acquisition will enhance Speira’s ability to utilise recycled metal in its production and deliver high-quality, low carbon rolled aluminium products to its customers.
Speira CEO Einar Glomnes said, “The integration of Real Alloy Europe into Speira will accelerate our strategy of creating closed loops from scrap to final product and back. We look forward to investing further in Speira’s and Real Alloy Europe’s combined capabilities to meet the market’s demand for sustainable and circular solutions.”
“Following the acquisition, Speira will continue to focus on delivering third-party recycling services to existing and new customers of Real Alloy Europe. We will be serving the whole European aluminium industry, working closely with customers across the value chain”, said Glomnes.
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