Cronimet acquires Czech metals recycling company to strengthen Central Europe presence
Germany-based Cronimet, a specialist in stainless steel scrap and ferroalloys, has acquired the Czech Republic’s MetallPlast Recykling to strengthen its presence in Central Europe, the company said Sept. 11.
Cronimet, headquartered in Karlsruhe, Germany, is present worldwide in around 75 locations. According to its website, it recycled 1.57 million metric tons of stainless steel in 2023.
MetallPlast Recykling is based in North Bohemia, and specializes in the processing and recycling of nonferrous metal, ferrous scrap and stainless steel. The company did not immediately respond to a request for comment regarding its recycling capacity.
Cronimet said MetallPlast Recykling’s seven sites in Central Europe and the firm’s vehicle fleet offer “a valuable addition to the … group’s network of sites and product portfolio.”
“This acquisition is a strategic step that strengthens our market position in Central Europe,” said Cronimet CEO Jurgen Pilarsky. “In particular, the geographical location of the sites and the complementary focal points in the operating business offer great synergy potential.”
At the beginning of 2024, Finnish stainless steelmaker Outokumpu acquired a 10% stake in Cronimet, and the two companies agreed to work together on innovation and research for the decarbonization of the stainless-steel industry.
Platts, part of S&P Global Commodity Insights, assessed the monthly European alloy surcharge for grade 304L bright bar at Eur2,838-3,140 per metric ton in August, down from Eur3,047-3,380/t in July.
