EGA to acquire aluminium producer Leichtmetall

ABU DHABI / WAM

Emirates Global Aluminium, the largest ‘premium aluminium’ producer in the world, on Thursday announced the signing of a binding sale and purchase agreement for the acquisition of a German aluminium recycling firm, Leichtmetall Aluminium Giesserei Hannover GmbH. Leichtmetall is an European specialty foundry, with production including hard alloys and larger diameter billets with high proportions of secondary aluminium.
EGA is to acquire 100 per cent of the firm from Leichtmetall Holding GmbH, a subsidiary of an investment fund managed by Quantum Capital Partners GmbH. The transaction is expected to close during the first half of 2024, subject to obtaining regulatory approvals. The company uses proprietary inductive melting technology, liquid metal treatment and casting processes developed over more than four decades to make, from scrap metal, very high quality and specification products used in demanding applications.
Leichtmetall’s production mainly consists of hard alloy billets up to 1,150 millimetres in diameter, with uses including manufacturing high load bearing extruded profiles and very large forged components.Leichtmetall has customers across Europe, and particularly in Germany, Italy and France.
Abdulnasser bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: “This acquisition provides EGA a platform to develop a recycling business close to our customers in Europe, contributing to the emerging circular economy and building on our existing position as one of the biggest importers of primary aluminium on that continent. Leichtmetall will grow as part of EGA. The acquisition of Leichtmetall adds significant value to EGA and, alongside the recycling facility we are building in Abu Dhabi, is just the first step for EGA in capturing growth opportunities worldwide in low carbon primary and recycled aluminium, expanding our business and enabling us to reach net zero greenhouse gas emissions by 2050.”