EGA Completes Acquisition Of 80% Of Italian Aluminium Recycling Firm Eco Green
Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, and the world’s biggest ‘premium aluminium’ producer, has announced the completion of its acquisition of an 80 percent stake in Italian aluminium recycling company Eco Green.
EGA first announced its intention to acquire the majority stake in April. The transaction has now received all necessary regulatory approvals and met closing conditions.
EGA is expanding its global aluminium recycling business to meet growing demand for low carbon aluminium. With Eco Green, EGA now possesses over 400 thousand tonnes per year of aluminium recycling capacity across the UAE, United States, Germany, and Italy, with an additional 200 thousand tonnes under development.
Europe, excluding Russia, is the world’s third-largest recycled aluminium market after the United States and China. EGA is also a major primary aluminium supplier to Europe, selling around 600 thousand tonnes per year to European industries.
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, shared his enthusiasm:
"Eco Green makes EGA an even better partner for Europe’s green future and further expands our growing global aluminium recycling business. Eco Green also brings us capability in Europe’s aluminium scrap market, which is important for our expanding recycling operations on the continent. I welcome everyone working at Eco Green to EGA and an even brighter future as part of the biggest ‘premium aluminium’ producer in the world."
Luca Scappini, Chief Executive Officer of Eco Green, expressed a similar sentiment:
"At Eco Green, we are proud of what we have achieved, growing our company into a leading aluminium recycling business in Italy over more than three decades. Becoming part of EGA unlocks our potential for further growth, as a key pillar of EGA’s expanding European aluminium recycling network. It will enable us to deliver even better products and services to our customers. And it creates further opportunities for our people. We are glad to join the EGA family."
Founded by the Scappini family in 1993, Eco Green has two plants in northeast Italy specializing in aluminium scrap collection, sorting, casting, and dross processing. The company distributes over 70 thousand tonnes annually, with approximately 23 thousand tonnes of aluminium scrap collected, sorted, and distributed annually in Villafranca di Verona. Some of this scrap is supplied to the Eco Green plant in nearby Nogara di Verona, which casts more than 20 thousand tonnes.
