Alcoa Signs Agreement to Acquire Full Rights of Evermore Recycling

Alcoa, a producer of primary and fabricated aluminum, has signed an agreement with Novelis to take over the operation of Evermore Recycling, a joint venture (JV) specializing in used beverage can (UBC) recycling.

Novelis and Alcoa were the partners of Evermore Recycling, which buys a large number of recycled cans when compared to other groups across the world. Under the terms of the agreement, Alcoa will acquire full ownership of the recycling JV and integrate it into its Global Packaging group. After the acquisition, Evermore Recycling will continue to operate in Nashville, Tennessee.

The President of Alcoa Global Packaging, Andrey Donets commented that Evermore Recycling is renowned for its strong and dedicated relationships throughout the recycling supply chain and known for its capability of making it easy for working together in an effective way. Donets added that they have been a pioneer in recycling since the invention of the aluminum cans and this new initiative will provide great opportunities to extend their rich heritage in recycling.

Aluminum can is the most recycled container and most sustainable package available in the world. It is recycled into a new can in less than 60 days and needs 95% less energy than cans made from primary metal.

Source: http://www.alcoa.com/

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