NEW YORK Scepter Inc. is expanding overseas, having acquired a secondary aluminum plant in Tatabanya, Hungary.
The plant, Scepter Tatabanya Kft, will serve customers in Eastern Europe as a producer of specification ingot in molten, sow or ingot form and as a toll converter of aluminum dross and scrap, it said.
"The purchase of this European plant is a natural fit for Scepter. It also represents an important strategic opportunity for us to leverage our proprietary technology and human capital in a brand new market," Garney B. Scott III, president of the Waverly, Tenn.-based secondary aluminum recycling and trading company, said in a statement Oct. 30. "To expand overseas is an important step for a company to take."
Scholz AG recently agreed to sell the facility, formerly ScholzAlu Tatabanya Kft, to Scepter (amm.com, Oct. 21). The facility will support Scepters strategic growth initiative, which is designed to mesh with its core competencies in aluminum recycling and value-added aluminum products, the company said.
This is Scepters seventh aluminum recycling plant, with four other plants located in the United States and two in Canada.