European stainless steel giant, Aperam, announced that it would acquire German ELG Haniel Gmbh (ELG), a global stainless steel and alloy scrap recycling company, with an enterprise value of EUR 357 million.

This move not only further strengthens the company’s cost and ESG leadership but also improves its input structure and expands its business to the supply of raw materials, which will help the company achieve its CO2 emission reduction by 30% by 2030 and its goal of achieving carbon neutrality by 2050.

This share transaction was subject to the usual approval procedures and was expected to be completed in the second half of 2021.