ArcelorMittal buys Polish scrap metal company

ArcelorMittal has signed an agreement to acquire Poland's Zaklad Przerobu Zlomu (Zlomex) scrap metal recycling company. ArcelorMittal says Zlomex operates scrap yards in Krakow and Warsaw in Poland, which "recycled and shipped almost 400,000 metric tons of ferrous scrap last year."

The Luxembourg steelmaker says it expects the sale to be completed in the first half of 2023, pending regulatory approval. ArcelorMittal says Zlomex currently supplies mills and foundries in its market region and is "a longstanding supplier of ArcelorMittal's steel mills in Dąbrowa Górnicz and Warsaw" in Poland.

ArcelorMittal points out that Zlomex expanded its operations in Krakow in 2022 with the installation of a new shredder and separating equipment, and also recently invested in the expansion of its plant in Warsaw.

The Polish deal is the fourth scrap metal acquisition ArcelorMittal made in Europe in 2022 as the steelmaker “continuously seeks to expand its ability to source steel scrap, a key raw material that supports the company’s ability to reduce carbon emissions.