Luxembourg-based ArcelorMittal has announced that it has acquired Netherlands-based ferrous scrap metal recycling business Riwald Recycling (Riwald). The transaction is expected to be concluded by the end of January 2023.
Riwald operates two fully certified scrap metal yards, both of which have direct port access and processed over 330,000 metric tons of ferrous scrap metal in 2021. The company sources material from a wide range of suppliers and utilises high-specification technical equipment in the separation of materials. This ensures a high purity of materials at the end of the process.
“This is the third metal recycling acquisition we have undertaken this year, reinforcing the important role that scrap steel can play in our efforts to decarbonise and meet our target to reduce the carbon intensity of the steel we produce in Europe by 35 percent by 2030,” Geert Van Poelvoorde, ArcelorMittal Europe CEO, said.
Earlier this year, ArcelorMittal acquired several metal recycling facilities from Germany-based ALBA International Recycling. The company also acquired Scotland-based John Lawrie Metals, as SteelOrbis previously reported. Together with Riwald, these three businesses processed over one million mt of scrap steel in 2021.