This is the third metal recycling company to be acquired by the steelmaker this year.
SEATTLE (Scrap Monster): Luxembourg-based steelmaker ArcelorMittal announced that it has signed an agreement to acquire Dutch ferrous scrap metal recycler, Riwald Recycling. The transaction, subject to necessary regulatory approvals, is expected to close in end-January 2023.
This is the third metal recycling company to be acquired by the steelmaker this year. Earlier, it had announced acquisition of several metal recycling facilities from ALBA International Recycling as well as the acquisition of John Lawrie Metals.
Founded in 1989, Riwald Recycling owns and operates two fully certified scrap metal yards in Almelo and Beverwijk, the Netherlands. Together, these facilities processed nearly 330,000 tonnes of ferrous scrap during the previous year.
The state-of-the-art metal recycler employs high-specification technical equipment to separate materials and ensures maximum recovery of materials from collected waste and scrap.
Commenting on the acquisition, Geert Van Poelvoorde, CEO, ArcelorMittal Europe noted that it will boost the company’s decarbonisation efforts, aimed at reducing the carbon intensity of its European steel operations by 35% before the end of this decade. Furthermore, he welcomed Riwald’s management team and employees to the group.
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