Sibelco enters North American glass recycling market with acquisition of Strategic Materials

European glass processing company Sibelco announced the acquisition of Strategic Materials, Inc. (SMI), the company said in a statement.

SMI has a multinational network throughout the United States, Canada and Mexico where it processes a mixture of feedstocks to produce cullet that is sold to a variety of product segments including glass containers, fiberglass insulation, beads, shot blasting abrasives and flat glass.

SMI has 42 plants and offices and processes approximately 2 million metric tons of glass per year.

The transaction is expected to close at the end of the second quarter or early in the third quarter of 2024, subject to U.S. regulatory approvals and other customary closing conditions. The cost of the transaction is not disclosed.

Sibelco is an international company specializing in the extraction, processing and sale of industrial minerals (silica, clay, olivine) and a leader in the glass processing industry. Products are supplied to the world market, serving the glass, foundry, metallurgical, ceramics, chemical and construction industries. The Sibelco Group has production facilities in more than 30 countries. In the Russian segment, Sibelco also held leading positions in the extraction and processing of quartz sand and clay. In the second half of 2023, the company's Russian assets were sold to the FSK Group of Companies. Sibelco's headquarters are located in Belgium.

Source: AK&M