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Dubai: Emirates Global Aluminium (EGA) announced the completion of the acquisition of Leichtmetall Aluminium Giesserei Hannover GmbH.

EGA announced its intention in March to acquire Leichtmetall from Leichtmetall Holding GmbH, a subsidiary of an investment fund managed by Quantum Capital Partners GmbH. The transaction has now cleared all required regulatory approvals and closing conditions.

EGA’s new German operation is a European specialty foundry that uses renewable energy to produce up to 30,000 tonnes of billets per year. Secondary aluminium is 80 per cent of the input material.

Leichtmetall produces hard alloys and larger diameter billets up to 1,150 millimetres, which are used to manufacture high-load-bearing extruded profiles and very large forged components.

Leichtmetall adds to EGA’s existing business in Europe. EGA already exports over 600 thousand tonnes of primary aluminium to the European continent each year and is a significant supplier for industries including automotive and construction.

Abdulnasser Bin Kalban, CEO of EGA, said: “I am pleased to welcome our new Leichtmetall colleagues in Hannover to EGA. Becoming part of the biggest ‘premium aluminium’ producer in the world will give Leichtmetall new strength for its customers and to grow. For EGA, today is an important early milestone in our drive to build an aluminium recycling business in Europe, where we are already a major primary aluminium supplier, and around the world.”

Thomas Witte, CEO of Leichtmetall, said: “This is an exciting moment for Leichtmetall, as we join forces with one of the biggest and most ambitious aluminium producers in the world and a major aluminium supplier in Europe. I am confident that as part of EGA we will be able to serve our customers even better, and develop our business further.”

The acquisition of Leichtmetall is EGA’s first major transaction since the company’s formation a decade ago through the merger of Dubai Aluminium and Emirates Aluminium.