ALBA Group sells off asset in Germany

BERLIN (Scrap Monster):  The ALBA Group, an environmental services, recycling and raw material supplier based in Germany, has announced that it has sold its scrap metal recycling facility in Lübeck, Germany, to the German recycling company Autorecyclinghof Sönke Milon e. K. The deal is expected to be complete by Sept. 1, 2016. Following the sale of the facility the employees of ALBA Group’s Lubeck location will become members of the staff of the new owners.

The Lübeck facility was a part of ALBA Metall Nord GmbH.

A spokesman for ALBA says that the sale of the facility is being done to optimize the company’s portfolio. The company says that going forward it is seeking to focus on locations where it can combine both the disposal of waste and the recycling of scrap metal in the most efficient way, especially by using innovation and modern technology.

In a release announcing the deal, ALBA Group’s CEO Dr. Axel Schweitzer, says, "We are driving the strategic realignment of our group continuously ahead. This also means that we concentrate on those areas in which we gain new raw materials in the combination of the disposal and steel and metals recycling activities through technology and innovation."

The Lübeck facility was used by ALBA primarily for the storage and treatment of ferrous metals, non-ferrous metals, wood shavings and steel scrap used.

ALBA has locations throughout Europe and Asia. The company says that it handles around 50 million metric tons of material through its recycling business.

Courtesy: www.recyclingtodayglobal.com