Altek Metal receives 18 million Euros to construct aluminium recycling casthouse

Altek Metal, a manufacturer of finely machined 5083 alloy aluminium cast plates under the Aludur and Aludur Plus trademarks, receives 18 million Euro joint investment from the European Bank for Reconstruction and Development (EBRD) and Garanti BBVA to construct aluminium recycling casthouse with a 50,000 tonne per year capacity, in Çerkezköy, Turkey.

The main aim of this investment is to help Altek Metal expand its company ensure the long-term viability of its high-quality aluminium products. At this time, Altek Metal is the only business in the Turkish aluminium industry that is getting active investment from the EBRD. This investment will also enable Altek Metal to manufacture slabs and billets, reducing its reliance 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,’’ said 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,” stated EBRD Analyst Nisa Koçaş.

With this investment, Altek Metal hopes to lower its scope 3 environmental footprints. Altek will produce more sustainable secondary aluminium slabs and billets by minimising the distance their goods travel and recovering local scrap material.

Altek Metal also hopes to boost its self-sufficiency and environmental imprint by adding solar panels on the top of its factory. Beginning in January 2023, the first goods from this new casthouse will be supplied in both the European and Turkish markets.