China – Recycling major ALBA Group has continued to expand its activities in Asia by becoming 51% majority owner of Shanghai Baosteel Auto Recycling Co. Ltd, a subsidiary of the country’s biggest steel producer Baosteel.
‘We are very pleased to be able to further deploy our knowhow in automotive recycling in Asia,’ comments ALBA Group’s ceo Axel Schweitzer. ‘Our aim is to establish a model for all of China and actively support the country in building a modern and sustainable circular economy. At the same time, we are further extending our strong position in the Chinese recycling sector.’
China potentially offers substantial recycling opportunities, ALBA believes. ‘There are 3.2 million vehicles in the greater Shanghai region and licences for recyclers there are very limited,’ it points out. Shanghai Baosteel Auto Recycling operates from a 60 000-square-metre site in the central part of the city.
The ALBA Group has been involved in a number of recycling projects in China, including a modern e-scrap facility which opened its doors last year near Hong Kong’s international airport.
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