Today, Emirates Global Aluminium (EGA), the world’s largest manufacturer of “premium aluminium” and the largest industrial company in the United Arab Emirates outside of oil and gas, announced the completion of its acquisition of an 80% share in Italian aluminium recycling firm Eco Green. In April, EGA declared that it would buy the majority of Eco Green. All necessary regulatory approvals and closing requirements have now been met by the transaction.
To help fulfil the growing demand for low-carbon aluminium worldwide, EGA is expanding its global aluminium recycling business. With Eco Green, EGA is now able to recycle more than 400 thousand tonnes of aluminium annually in the United States, Germany, Italy, and the United Arab Emirates. An additional 200 thousand tonnes of capacity is being developed. After the US and China, Europe is the third-largest market for recycled aluminium worldwide, excluding Russia.
Approximately 600 thousand tonnes of primary aluminium are sold annually to European businesses by EGA, making it a significant primary aluminium supplier to the continent. “Eco Green makes EGA an even better partner for Europe’s green future and further expands our growing global aluminium recycling business,” stated Abdulnasser Bin Kalban, CEO of Emirates worldwide Aluminium. Additionally, Eco Green gives us access to the European aluminium scrap market, which is crucial for our growing recycling businesses there. I extend a warm welcome to all employees of Eco Green to EGA and an even more promising future as a member of the world’s largest manufacturer of “premium aluminium.”
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