Stainless steel recycler ELG is to be sold by its parent group Franz Haniel & Cie to the steel producer Aperam. The three companies announced the signature of a share purchase agreement for an enterprise value of €357m on 6 May. Aperam said that the acquisition of ELG will put it "at the core of the circular economy and enable capturing value in the global recycling industry. Investing in sustainable recycling will further improve Aperam’s leading environmental footprint and support the company’s CO2 reduction targets". The company intends to operate ELG as a fully separate and inde-pendent company. "ELG will continue to serve all of its customers in their best interest," said Aperam CEO Timoteo Di Maulo.
Source : https://www.euwid-recycling.com/news/business/sing