Luxembourg-based ArcelorMittal, the world’s largest steelmaker, has announced that it has acquired Scotland-based steel recycling company John Lawrie Metals Ltd as part of its strategy to increase the use of scrap in order to lower its carbon emissions from steelmaking.
The acquisition deal was completed on February 28, while John Lawrie will continue to be run by its current management.
John Lawrie Metals, which processes 200,000 mt of scrap annually, currently exports to steel producers mainly in western Europe. The company has access to diversified sources of high-quality scrap from the UK’s oil and gas industry. John Lawrie sources around half its material from the oil and gas market; with decommissioning of oil and gas wells in the North Sea increasing due to the green energy transition, supplies of scrap are expected to grow significantly over the next decade.
