Emirates Global Aluminium (EGA), the world’s largest producer of premium aluminium, has completed the acquisition of a majority stake in American aluminium recycling company Spectro Alloys Corporation.
This strategic move expands EGA’s operations across four continents, covering the entire aluminium value chain from bauxite mining to recycling.
EGA now holds an 80 percent stake in Spectro Alloys, with the company’s existing owner-managers retaining a 20 percent share. The acquisition was financed through EGA’s green finance framework, in line with its sustainability goals. The deal strengthens EGA’s presence in the United States, where it already sold 550,000 tonnes of primary aluminium in 2023, making it one of the company’s largest global markets.
Spectro Alloys, a leading producer of secondary foundry alloy in the U.S., produces approximately 110,000 tonnes of aluminium ingots annually. The company’s ongoing expansion at its Rosemount site will add 55,000 tonnes of production capacity by 2025.
Abdulnasser Bin Kalban, CEO of EGA, highlighted the importance of aluminium in promoting a sustainable society, noting that demand for low-carbon aluminium is expected to rise significantly.
“We are taking rapid and decisive action, now with recycling operations in both the U.S. and Europe,”
he said.
Luke Palen, President of Spectro Alloys, emphasized the benefits of joining EGA, stating that the company’s global reach would accelerate growth and enhance job opportunities in Minnesota.
The acquisition aligns with EGA’s commitment to sustainability, as recycling aluminium requires 95% less energy than producing new metal, significantly reducing carbon emissions.
News Source: Emirates News Agency
