As part of an equity purchase agreement, Emirates Global Aluminium (EGA) announced its plan to acquire 80% of the American aluminum recycling firm Spectro Alloys Corporation (SAC). This move will advance EGA’s global expansion into aluminum recycling and extend its operations within the US.

The acquisition is expected to close during Q3 2024, pending necessary regulatory approvals, with SAC retaining a 20% shareholding.

“EGA is the biggest ‘premium aluminum’ producer in the world, and our goal is to grow further in both primary and recycled aluminum to meet the growing global demand for a metal which is essential for our world’s sustainable future,” stated Abdulnasser bin Kalban, CEO of EGA.

“Spectro Alloys has a strong and highly experienced team already implementing ambitious expansion plans and will be a strong platform for the further development of an EGA recycling business in the United States,” he added.

In May, EGA acquired the European specialty foundry Leichtmetall to broaden its presence in the aluminum industry. Additionally, in 2023, the company began constructing the largest aluminum recycling plant in the UAE.

Luke Palen, President of Spectro Alloys, said, “We have grown Spectro Alloys over the last five decades into one of the United States’ top aluminum recycling companies. By becoming part of EGA, the world’s largest ‘premium aluminum’ producer, we will unlock the next stage of our development in the fast-growing aluminum recycling industry.”

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