Alcoa Acquires Biggest Global Buyer of Recycled Cans
Alcoa and Novelis previously were partners in the recycling company, but Alcoa took control of Evermore at the end of August.
Alcoa’s Evermore Recycling is now a part of Alcoa’s Global Packaging group and will continue to be based in Nashville, Tenn.
It is far from Aloca’s first move into the recycling space. The company as been involved in aluminum recycling since the 1960s, when it started collection centers and transport services to buy old cans from civic organizations. Today about a sixth of Alcoa’s aluminum output has recycled content.
In March 2011 the company announced it would invest $10 million for a 10 percent equity stake in Electronic Recyclers International (ERI), one of the nation’s biggest collectors of e-waste.
Alcoa and the Aluminum Association have set a goal to increase the recycling rate of aluminum cans in the U.S. to 75 percent by the year 2015. This goal, if met, would save the industry the electricity equivalent of two average-size coal-fired power plants and prevent nearly 12 million metric tons of carbon dioxide emissions a year, the company has said.
Alcoa cut its normalized water use by 4.5 percent last year, compared to 2010 levels, but increase the amount of waste it sent to landfill by 10 percent, according to the company’s 2011 sustainability report.
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