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11.02.2011

Abengoa acquires 38% stake in its aluminum waste recycling business from Qualitas Venture Capital

  • The acquisition is worth €34 million.
  • The deal will give Abengoa 98.25 % ownership of the business.

Seville, November 2, 2011. Abengoa, the international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, today announced that it has reached an agreement with Qualitas Venture Capital (QVC) to acquire its 38% stake in the waste recycling business for €34 million.

In 2007 Abengoa and QVC integrated their respective aluminum waste recycling activities in the Abengoa division responsible for this business. The transaction gave Abengoa a 60.25% stake in the company. Following the signing of today’s agreement, Abengoa will own 98.25% of the business.

Abengoa is a European leader in the recycling of aluminum salt slags and aluminum waste, with a capacity to recycle 630,000 and 160,000 tons respectively. It has eight treatment centers for this type of waste in Germany, Spain and the United Kingdom. It is also one of the companies that is active in both secondary aluminum production and aluminum salt slags recycling, with a focus on the European market.

About Abengoa

Abengoa (MCE: ABG) is an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com)

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