Salzgitter Group expands regional scrap recycling by aquiring recycling company
by David Fleschen
By way of its subsidiary Deutsche Erz- und Metall-Union GmbH (DEUMU) Salzgitter AG has now acquired the recycling company Must-Metalle-Container-Recycling GmbH. The transaction will be effective February 15, 2023. Based in Goslar in the Harz region, the company specializes in trading in scrap materials and metals.
As an owner-managed family business, Must was founded in 1909 and operates a container supply and scrapping business, dealing predominantly with companies in the metals processing sector. It also has a downstream sorting and processing operation which enables it to supply quality grades of scrap. The takeover is intended to facilitate the progression of this successful SME to the next stage of growth.
In making this acquisition, DEUMU is directly implementing the Strategy “Salzgitter AG 2030” that is consistently geared to circularity. As part of the SALCOS® - Salzgitter Low CO2 Steelmaking program that is pioneering the transition to virtually CO2-free steel production, the Salzgitter Group intends to significantly expand its scrap recycling activities. This acquisition represents a further development in “circularity" in the immediate vicinity of the steel-making location of Salzgitter, and will facilitate the use of high-quality secondary raw materials in the production of steel.
In future, the Must company will operate as an independent undertaking within the Salzgitter Group and will trade under the new name “Harzer Schrott und Recycling GmbH”. It has been agreed that the purchase price will remain confidential.
Source and Photo: Salzgitter