The deal was completed on Monday as part of ArcelorMittal’s strategy of increasing its use of scrap steel to lower CO₂ emissions from its steelmaking operations.
 
John Lawrie Metals will continue to be run by the current management, ArcelorMittal said. The company is a leading consolidator of ferrous scrap metal that exports to steel producers mainly in western Europe.
 
“We have identified strong potential for growth in the ferrous scrap processing business, with demand growth in Europe facilitated by the European Union’s initiatives to achieve higher metal recycling rates, reduce CO₂ emissions and underpin the EU’s net-zero ambitions. We are therefore very pleased to announce the acquisition of John Lawrie Metals, which represents a further step in our strategy to increase the use of scrap steel across our steelmaking sites” said Geert Van Poelvoorde, chief executive of ArcelorMittal Europe.