Recycling business John Lawrie Metals has been acquired by multinational steel company, ArcelorMittal, as part of it strategy to increase to use of scrap steel for manufacturing to lower CO2 emissions.
Aberdeen-based John Lawrie will continue to trade under its existing name and management team.
John Lawrie’s managing director Dave Weston said the company, which operates in the US and Europe, accesses scrap steel from the UK’s oil and gas industry.
Half of its material comes from decommissioned oil and gas wells in the North Sea. He predicted that, due the energy transition, supplies of scrap steel from the North and other offshore fields will grow significantly over the next decade.
Weston said: “Over the last four years we have been pushing the boundaries of metal recycling and reuse, building strategic relationships with our customers and suppliers. We are proud to be the first metal recycling business in Europe to be purchased by ArcelorMittal.”
Luxembourg-based ArcelorMittal is a global corporation with employees in the US, South America and Europe.
Geert Van Poelvoorde, chief executive of ArcelorMittal Europe said: “We are pleased to announce the acquisition of John Lawrie Metals, which represents a further step in our strategy to increase the use of scrap steel across our steel-making sites.”
