Speira Has Decided To Close The Aluminium Smelting Operations At Its Rheinwerk, Germany Facility
Speira To Turn Into An Aluminium Rolling And Recycling Company Following The Closedown
- Speira is on its way to investing about 30 million € in Rheinwerk's recycling capacities.
- Speira to completely stop Rheinwerk facility's smelting operations.
Speira, a German metal processing company, took the decision to shut down aluminium smelting operations at its Rheinwerk plant as a consequence of the surge in the prices of energy.
During 2022, the company slashed the plant’s aluminium production by 50% because of the high prices of energy in the country.
During that period, the CEO at Speira, Einar Glomnes, stated that prices of energy have surged way too high in the past few months, and they don't expect them to lower in the near future.
Western Europe's energy crisis started in 2021 and took a turn for the worse following the events of the Russia-Ukraine war a year ago. It has now left its prime; however, the energy-intensive aluminium industry is still being impacted.
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The company has now settled on the decision to shut down the rest of the Rheinwerk plant's 70,000t of liquid aluminium production in the second half of 2023.This action, which is anticipated to affect around 300 workers, would change the firm into an aluminium rolling and recycling company.
According to Speira, the decision will not impact its clients since it intends to substitute the curtailed production with external supplies of the metal.
The German company has also made the decision of investing €30m ($32m) to expand the recycling capacity of the Rheinwerk plant.
Speira’s Planned Acquisition Of Real Alloy Europe Progresses With Final Accord By Aurea SA For Acquiring Mandated Divestment Business
Aurea SA finalised a conclusive agreement to obtain a standalone company, including facilities of Real Alloy in Sainte-Menehould, France, and Swansea, United Kingdom, a European Commission-mandated divestment. The company's last planned acquisition of Real Alloy Europe, which was supposed to be finalised before the divestment, additionally shows Speira’s substantial capital investment for its transformation. Each transaction's closing stays subject to regulatory approval.
As per Glomnes, the prospect of substantially acquiring all of Real Alloy Europe as well as the hard circumstances in the energy market, has boosted Speira's transformation into a pure aluminium rolling and recycling company.
They are eager to dedicate themselves to investing in Rheinwerk's recycling capabilities growth. During the past years, Speira has already made an investment of over €60m in the Rheinwerk plant's recycling. Their investment priority moving forward will be towards the Speira plant location's recycling capacities and capabilities.
Speira is a global aluminium rolling and recycling company consisting of 7 production facilities, along with one R&D centre. Their locations in Germany and Norway include Alunorf (the largest aluminium rolling mill in the world), as well as Grevenbroich (the largest rolled aluminium finishing mill worldwide) and various international sales offices, all their Joint Ventures.
The company proudly employs about 5,000 people, specifically in Germany and Norway. Its functions have been carried out for more than a century of aluminium rolling and recycling background and technical expertise for aluminium products. This, along with a firm entrepreneurial mindset as well as high market agility, they re-start as Speira.
The company has a clear aim for transforming into an industry benchmark for sustainability by offering high-quality low-carbon products that employ their expert rolling and recycling capabilities.
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According to the news article by Procurement Resource, the German metal processing company, Speira is set to shut down aluminium smelting operations at its Rheinwerk plant on the back of high energy prices that started soaring after the Russia-Ukraine war a year ago and aren't expected to lower in the near future. The Western Europe energy crisis began in 2021 and worsened gradually, affecting the energy-intensive aluminium industry.
As a result, the company has now settled on the decision to shut down the rest of the Rheinwerk plant's 70,000t of liquid aluminium production in the second half of 2023 and turn it into an aluminium rolling and recycling company. A €30m ($32m) investment to expand the recycling capacity of the Rheinwerk plant has also been made.