On March 2, ArcelorMittal announced that it had completed the acquisition of John Lawrie metals, a Scottish metal recycling company, on February 28. After the acquisition, John Laurie still operates according to the original structure of the company.
John Laurie metals is a large scrap recycling company, headquartered in Aberdeen, Scotland, with three subsidiaries in Northeast Scotland. The finished products are mainly exported to Western Europe. It is reported that 50% of the company’s scrap resources come from the UK’s oil and gas industry. With the increase in the decommissioning of oil and gas wells in the North Sea due to energy transformation, the company’s scrap raw materials are expected to increase significantly in the next 10 years.
In addition, AMMI said that in order to achieve carbon neutrality in enterprise operation as soon as possible, the company plans to increase the use of scrap steel and reduce carbon emissions.