Interseroh Scrap and Metals Holding GmbH, a subsidiary of Germany-based environmental service provider and raw materials trader Alba Group, has acquired Reukema Balkan SRL. The acquisition includes 12 scrap yards in Croatia, Bosnia-Herzegovina, Serbia, Montenegro and Romania.
Headquarters for the new Interseroh subsidiary, which will operate as Alba Balkan Recycling SRL, will be in Bucharest. Alba says that the acquisition will expand Interseroh’s activities in the Balkans. The newly acquired facility will be headed by Zlatko Garac as managing director and co-shareholder.
“With this acquisition we are very pleased to strengthen our activities in southeastern Europe, and therefore have a stronger presence in the Balkans – especially towards Turkey,” says Joachim Wagner, a member of the board of directors for Alba Group’s steel and metals recycling segment.
ALBA says it expects the acquisition to help it boost its position as one of the 10 largest scrap metal suppliers in Turkey. The company already supplies the Turkish market with its deep-sea terminal in Dordrecht at the Port of Rotterdam.
Alba’s Balkan Recycling SRL is expected to be active in the purchase of ferrous scrap metal from smaller and medium-sized suppliers. The company also expects to include nonferrous metals as materials it will handle.