Emirates Global Aluminium to Acquire 80% Stake in US Aluminum Recycler Spectro Alloys, Boosting Global Expansion Plans

Published: Aug 23, 2024 12:19

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According to foreign media reports, Emirates Global Aluminium (EGA) has signed a share purchase agreement with Spectro Alloys, aiming to acquire an 80% stake in the US aluminum recycling company, with the current owner and manager retaining the remaining 20%. The transaction is expected to be completed in the third quarter of 2024. This move will accelerate EGA's global expansion in the aluminum recycling sector and expand its operations in the United States. Spectro Alloys procures aluminum scrap from over 250 scrap suppliers in the region and employs advanced sorting and analysis techniques to produce various alloys tailored to customer needs. Market analysts predict that global demand for recycled aluminum will double by 2040. It is estimated that from now until 2030, recycled aluminum will account for around 60% of the growth in global aluminum supply, and this figure will rise to approximately 70% between 2030 and 2040.

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