Emirates Global Aluminium (EGA), the largest ‘premium aluminum’ producer in the world, has announced the completion of the acquisition of Leichtmetall Aluminium Giesserei Hannover GmbH.
EGA announced its intention in March to acquire Leichtmetall from Leichtmetall Holding GmbH, a subsidiary of an investment fund managed by Quantum Capital Partners GmbH. The transaction has now cleared all required regulatory approvals and closing conditions.
EGA’s new German operation is a European specialty foundry that uses renewable energy to produce up to 30 thousand tons per year of billets, with secondary aluminum as some 80 percent of input material.
Abdulnasser Bin Kalban CEO – EGA
“I am pleased to welcome our new Leichtmetall colleagues in Hannover to EGA. Becoming part of the biggest ‘premium aluminum’ producer in the world will give Leichtmetall new strength for its customers and to grow. For EGA, today is an important early milestone in our drive to build an aluminum recycling business in Europe, where we are already a major primary aluminum supplier, and around the world.”
The production at Leichtmetall includes hard alloys and larger diameter billets up to 1,150 millimeters, with uses including manufacturing high load-bearing extruded profiles and very large forged components.
Leichtmetall adds to EGA’s existing business in Europe. EGA already exports over 600 thousand tons of primary aluminum to the European continent each year and is a significant supplier for industries including automotive and construction.
“This is an exciting moment for Leichtmetall, as we join forces with one of the biggest and most ambitious aluminum producers in the world and a major aluminum supplier in Europe. I am confident that as part of EGA, we will be able to serve our customers even better, and develop our business further,” commented Thomas Witte, Chief Executive Officer of Leichtmetall.
