The Brazilian Aluminium company (CBA), which is part of the Votorantim Group, has announced the signing of a contract to acquire 80% of Alux do Brasil. The recent operation, which reached a value of 110 million reais, also has an option to buy an extra 20%, starting in the third year after the transaction is completed.
For Ricardo Carvalho, CEO of CBA, the acquisition “is aligned with our long-term strategy to expand recycled metal production capacity by approximately 20% and will contribute to our commitment to produce aluminium with a decreasing carbon footprint”.
Since 2002, Alux do Brasil, headquartered in Nova Odessa (SP), has produced more than 400,000 tons of secondary metal in the Brazilian domestic market. The company’s customers are large companies in the automotive sector, which will allow CBA to enter a new market segment. It is also aligned with the long-term strategy of increasing its recycled metal production capacity.
However, this transaction and the transfer of control of Alux do Brasil to CBA are subject to the authorization of the competent regulatory bodies. The operations of both companies will continue independently until the conclusion of the process.
