Luxembourg-based steelmaker ArcelorMittal has bought Scottish metal recycling business John Lawrie Metals. The Belgium-based company plans to increase the use of scrap steel to lower CO2 emissions from steelmaking.
The deal was completed February 28 and the business will continue to be run by the current management team including its managing director Dave Weston and its CFO Charlie Parker.
Weston commented: “Over the last four years we have been pushing the boundaries of metal recycling and re-use, building strategic relationships with our customers and suppliers as we go with the aim of reducing carbon emissions and supporting sustainability goals.
“We are proud to be the first metal recycling business in Europe to be purchased by ArcelorMittal as part of their decarbonisation strategy. Our objectives are aligned, and we will continue to focus our drive on providing an end-to-end closed loop service to our suppliers for the removal, recycling and repurposing of industrial metals.”
ArcelorMittal Europe CEO Geert Van Poelvoorde said: “We have identified strong potential for growth in the ferrous scrap processing business, with demand growth in Europe facilitated by the European Union’s initiatives to achieve higher metal recycling rates, reduce CO2 emissions and underpin the EU’s net-zero ambitions.”