ALTEK METAL BUILDS ALUMINUM RECYCLING SMELTER IN TURKEY

The EBRD (European Bank for Reconstruction and Development) and Garanti BBVA will jointly invest EUR 18 million for Altek Metal to build a foundry with a capacity of 50,000 tons per year in Çerkezköy, Turkey.

The main objective of this investment will be to support business growth and improve the sustainability of Altek Metal’s high quality aluminum products. Altek Metal is currently the only company in the Turkish aluminum industry to have received such an active investment from the European Bank for Reconstruction and Development.

“We are proud to receive an investment from the EBRD to help us create a sustainable smelter that will produce aerospace-grade aluminum standard (AMS) products. We will be able to increase our exports, reduce our imports while creating a smelter that respects environmental standards,” details Altek Metal CEO Candan Karabağlı.

In addition, Altek Metal produces precision milled aluminum casting plates of alloy 5083 under the Aludur and Aludur Plus brand names. With this latest investment, Altek Metal will be able to produce its own slabs and billets and will be less dependent on slab imports.

”One of the main reasons why the EBRD has chosen to work with Altek Metal on this investment is the project’s contribution to Turkey’s green/circular economy. This investment will help Altek Metal develop its sustainable production capacity and reduce its dependence on imports,” highlights Nisa Koçaş, EBRD analyst.

Finally, Altek Metal will install solar panels on the roof of its facilities, with the aim of improving its self-sufficiency and environmental footprint. The first products from this new foundry will be distributed in both the European and Turkish markets from January 2023.