Emirates Global Aluminium Acquires Majority Stake in U.S. Aluminium Recycler Spectro Alloys
Emirates Global Aluminium (EGA), the world’s largest premium aluminium producer, has completed the acquisition of a majority stake in U.S.-based aluminium recycling company Spectro Alloys Corporation. The deal expands EGA’s operations across four continents, with production capabilities ranging from bauxite mining to aluminium recycling.
The acquisition strengthens EGA's presence in the United States, one of its largest markets. In 2023, the company sold approximately 550,000 tonnes of primary aluminium in the country. Spectro Alloys, a key secondary foundry alloy producer, will contribute to EGA’s growing footprint in the U.S. market. The U.S. is currently the world’s second-largest market for recycled aluminium, and demand for recycled aluminium in the country is projected to reach 7.6 million tonnes annually by 2033, according to data from CRU.
EGA acquired 80% of Spectro Alloys, while the company’s existing owner-managers will retain a 20% shareholding. The acquisition is funded through EGA’s green finance framework, aligning with its sustainability goals. Spectro Alloys produces approximately 110,000 tonnes of aluminium ingots annually and is undergoing an expansion at its Rosemount site in Minnesota, which will add 55,000 tonnes of secondary billets production by 2025.
EGA CEO Abdulnasser Bin Kalban emphasized the importance of aluminium recycling in building a more sustainable future, stating, “Developing a global business in recycling is a key strategic priority for EGA. We are taking rapid action with operations in the U.S., Europe, and our expanding greenfield plant in the UAE.”
Spectro Alloys President Luke Palen echoed this sentiment, noting that the partnership will accelerate the company's growth and enable it to better serve its customers while creating more jobs in Minnesota.
Aluminium recycling offers significant environmental benefits, requiring 95% less energy compared to producing new metal and generating much lower greenhouse gas emissions. EGA’s investment in recycling aligns with its broader sustainability initiatives, which also include the acquisition of European specialty foundry Leichtmetall in May and the ongoing construction of the UAE’s largest aluminium recycling plant.
