{"id":84002,"date":"2024-05-07T00:00:00","date_gmt":"2024-05-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/"},"modified":"2024-05-07T00:00:00","modified_gmt":"2024-05-07T00:00:00","slug":"ega-finalizes-leichtmetall-aluminum-giesserei-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/","title":{"rendered":"EGA finalizes Leichtmetall Aluminum Giesserei acquisition"},"content":{"rendered":"

Emirates Global Aluminium (EGA) has finalized its acquisition of German aluminum <\/strong>recycling company <\/strong>Leichtmetall Aluminum Giesserei<\/a><\/strong>, according to a statement<\/a> released on Friday. EGA closed the transaction with Leichtmetall Holding after receiving regulatory approval, the company said without providing details on the value of the purchase. <\/p>\n

Background: <\/strong>The company revealed the transaction in March<\/a>, marking its first major acquisition since it was formed through the merger of Dubai Aluminum and Emirates Aluminum.<\/p>\n

The acquisition will bolster EGA\u2019s renewable production capacity: <\/strong>Leichtmetall\u2019s facilities operate with an annual production capacity of 30k tons of billets using renewable energy, with 80% of the input material being secondary aluminum. The new capacity will be added to 600k tons of primary aluminum EGA exports to Europe annually, bringing the company closer to European customers, as the EU inches closer to introducing its tax on carbon-intensive imports in 2026<\/a>. Recycled aluminum is set to account for around 60% of global aluminum demand by 2030 and 70% by 2040, to reach 57 mn tons, EGA noted in its statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is EGA\u2019s first major acquisition and adds to the company\u2019s aluminum exports to Europe<\/p>\n","protected":false},"author":1,"featured_media":84003,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[376,11,79,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-emirates-global-aluminum","tag-enterpriseclimate","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"238d0c43-4163-4b10-a975-7890b998ad85","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/321.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGA finalizes Leichtmetall Aluminum Giesserei acquisition","related_issue":[83990],"teaser":"This is EGA\u2019s first major acquisition and adds to the company\u2019s aluminum exports to Europe","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.9102c60b-da63-48fe-9f57-ccdefc863197.mp3"},"yoast_head":"\nEGA finalizes Leichtmetall Aluminum Giesserei acquisition - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGA finalizes Leichtmetall Aluminum Giesserei acquisition\" \/>\n<meta property=\"og:description\" content=\"This is EGA\u2019s first major acquisition and adds to the company\u2019s aluminum exports to Europe\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-07T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/321.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EGA finalizes Leichtmetall Aluminum Giesserei acquisition\",\"datePublished\":\"2024-05-07T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/\"},\"wordCount\":173,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/321.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Emirates Global Aluminum\",\"EnterpriseClimate\",\"M&A WATCH\",\"UAE\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2024\/05\/07\/ega-finalizes-leichtmetall-aluminum-giesserei-acquisition\/\",\"name\":\"EGA finalizes Leichtmetall Aluminum Giesserei acquisition - 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