With EBRD and Garanti BBVA financing, Altek Metal Builds Aluminium Recycling Casthouse
Altek Metal receives a 18 million Euro joint investment from EBRD (The European bank of Reconstruction and Development) and Garanti BBVA to build a casthouse with 50,000 ton per year capacity in Çerkezköy, Turkey. The main goal of this investment is to support business growth and improve the sustainability of Altek Metal’s high quality aluminium products. Altek Metal is the only company within the Turkish aluminium industry who is currently receiving active investment from EBRD at this point of time.
Altek Metal produces 5083 alloy precision milled aluminium cast plates under the brands of Aludur and Aludur Plus. With this latest investment, Altek Metal will be able to produce its own slabs and billets and will be less reliant on slab imports.
‘’We are proud to receive investment from EBRD to help us create a sustainable casthouse that will produce Aerospace quality (AMS) standard aluminium products. We will be able to increase our exports, reduce our imports whilst creating a casthouse that is respectful of environmental standards,’’ explains the CEO of Altek Metal, Candan Karabağlı.
‘’One of the main reasons EBRD has chosen to work with Altek Metal on this investment is the projects contribution to Turkey’s green / circular economy. This investment will help Altek Metal develop its sustainable production capacity and reduce its reliance on imports.’’ Explains EBRD Analyst Nisa Koçaş.
Altek Metal specifically aims to reduce its scope 3 environmental footprint with this investment. By reducing the distance their products travel and recycling local scrap material, Altek will create more sustainable secondary aluminium slabs and billets.
Additionally, by installing solar panels on the roof of its facility, Altek Metal aims to improve its self-sufficiency and environmental footprint. The first products from this new casthouse will be distributed in both European and Turkish market beginning in January 2023. Altek Metal’s main products Aludur and Aludur Plus, which are currently sold online on www.aluminyumburada.com, will be made largely from secondary recycled aluminium.