backKing & Spalding advised Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas and the biggest ‘premium aluminium’ producer in the world, on its announced intention to acquire a majority stake in American aluminium recycling firm Spectro Alloys Corporation. The acquisition, which is subject to obtaining regulatory approvals, will accelerate EGA’s global expansion into aluminium recycling and expand EGA’s business in the U.S. Spectro Alloys is a leading secondary foundry alloy producer in the U.S., founded in 1973, and based in Rosemount, Minnesota. The company has a production capacity of around 110 thousand tonnes per year of aluminium ingots, with a carbon intensity of less than one tonne of CO2 equivalent per tonne of aluminium produced.
To read more about this deal from EGAs press release, click here.