EGA to acquire 80% of Italian aluminium recycler

Emirates Global Aluminium (EGA) has agreed to acquire an 80 percent stake in Eco Green, an Italian aluminium recycling company, as part of its global expansion plan.

The value of the deal, which is subject to regulatory approvals, was not given.

The acquisition will bring EGA’s recycling capacity to more than 400,000 tonnes per year across the UAE, Europe and the US, with an additional 200,000 tonnes of capacity under development in Europe and the US. 

EGA is making rapid progress in building a global aluminium recycling business as it expands its primary aluminium production, CEO Abdulnasser bin Kalban said in a statement.

“Post closing, Eco Green will bring our reach and expertise in the European aluminium scrap market, contributing to Europe’s green future,” he said.

EGA is co-owned by Abu Dhabi’s Mubadala Investment Company and the Investment Corporation of Dubai.

Eco Green’s plant in Villafranca di Verona in northeast Italy collects, sorts and distributes 23,000 tonnes of aluminium scrap annually.

It is advancing an expansion plan in its Nogara di Verona facility that will add 15,000 tonnes per year of recycled aluminium capacity. The project is expected to be completed early in the second half of 2026.

EGA acquired German specialty foundry Leichtmetall in May 2024. Later, it announced an investment of $170 million to increase Leichtmetall’s recycling capacity by more than sixfold.

In September 2024 the UAE company acquired an 80 percent stake in US-based Spectro Alloys Corporation. 

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EGA and US-based Century Aluminum agreed in January to build a smelter in the US, which is expected to produce 750,000 tonnes of aluminium per year.

Earlier this month EGA said a preliminary assessment indicated that it will take at least 12 months to restore production at its Al Taweelah smelter, one of the world’s largest, after attacks by Iran.

Aluminum production fell 6 percent last month to an average of 15,963 tonnes per day, down from 16,997 tonnes per day in February, the global trade association for the aluminum industry said in a report.