Altek Metal, headquartered in Esentepe, Istanbul, Turkey, received an 18 million euro joint investment from the European Bank for Reconstruction and Development (EBRD) and Garanti BBVA to build a new aluminum recycling 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 aluminum products. The company is partnering with Almex USA, Inc., Sistem Teknik Industrial Furnaces Ltd., and Bonzet Insaat to build the new secondary/remelt casthouse.
Currently, the company produces 5083 alloy precision milled aluminum cast plate under the brands of Aludur and Aludur Plus. This latest investment will give Altek Metal the ability to produce its own slab and billet and rely less on slab imports.
“We are proud to receive this investment from EBRD to help us create a sustainable casthouse that will produce aerospace quality (AMS) standard aluminum products,” said Candan Karabağlı, CEO of Altek Metal. “We will be able to increase our exports and reduce our imports whilst creating a casthouse that is respectful of environmental standards.”
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 aluminum slab and billet.
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 the European and Turkish markets beginning in January 2023. Altek Metal’s main products Aludur and Aludur Plus, will be made largely from secondary recycled aluminum when the casthouse begins operations.