Befesa is acquiring all of American Zinc Recycling assets for US$ 450 million (EUR 380 million) in a deal expected to boost Befesa’s total steel dust recycling capacity by 40%.
The Spanish-German recycler will be able to process 1.7 million tonnes of residues from electric arc furnace (EAF) mills at 12 plants in Europe, Asia and the US. The transaction, which is subject to antitrust approval, is expected to be completed in the third quarter of this year.
American Zinc Recycling, headquartered in Pittsburgh, has become a leader in hazardous waste recycling in the US steel industry. The company currently handles around 560 000 tonnes of EAF dust annually. It operates four Waelz kiln recycling facilities for EAF dust near major US mini-mills in South Carolina, Tennessee, Illinois and Pennsylvania.
According to Befesa ceo Javier Molina, the acquisition will significantly increase its own value as it provides short-term synergies and strengthens future growth. ‘This transaction represents a great step forward in executing our strategy and in accelerating our growth globally. It brings together the two most established leaders in our respective markets to create a global EAF dust recycling leader under the Befesa name.’