This is a significant step forward in delivering on Hydro’s recycling ambitions and the company’s goal to double the use of post-consumer aluminium scrap by 2025. The use of post-consumer scrap significantly reduces the CO2 footprint compared to pre-consumer/process scrap as well as primary aluminium.

“With this acquisition, Hydro and Alumetal will together become the leading integrated aluminium recycler in Europe. This will enable us to offer more low-carbon and recycled aluminium products based on post-consumer scrap, further strengthening our commitment to enable our customer's to reach their sustainability goals. Bringing Alumetal into the Hydro family will also contribute to increased circularity in the aluminium value chain, fostering an increasingly circular economy in Europe,” said Eivind Kallevik, Executive Vice President in Hydro Aluminium Metal.

As a result of the transaction, Hydro will increase its competence in the recycling of aluminium scrap materials, and Alumetal will strengthen its competitive position by entering the structures of one of the largest and leading global aluminium companies in the world.

“The acquisition shows how extraordinary the Alumetal team's efforts have been over the last 20 years, demonstrates our significant growth journey and intensive development within our organization. I am very proud of our employees and we look forward to an even more exciting future together with Hydro," said Agnieszka Drzyżdżyk, President and CEO of Alumetal.

Hydro will be an active owner and support Alumetal in further positioning and strengthening the company going forward within operational excellence, safety, and further growth. Alumetal will be a stand alone company in the Hydro family and continue to work with its current business, organizational and operational model, ensuring that Alumetal’s successful track record will continue with new ownership.

Hydro and Alumetal will now initiate the process of integrating the Polish recycler into Hydro. The two companies marked successfully completing the transaction with a small celebration at Alumetal’s headquarters in Kety, Poland on July 10.