Sibelco announced today the signing of a definitive agreement to acquire Strategic Materials, Inc. (SMI), a leading glass recycler and producer of glass cullet in North America.
SMI operates a multinational network across the United States, Canada and Mexico, where the group processes a mixture of glass input materials to produce glass cullet that is sold to various manufacturing segments, including glass containers, fiberglass insulation, highway bead, air blast abrasives and flat glass.
This entry into North American glass recycling represents an opportunity for Sibelco to:
grow its circular business and expand its glass recycling leadership beyond Europe; and
strengthen and grow its operating footprint in North America beyond High-Purity Quartz (HPQ) to develop a resilient, key mineral platform at scale.
With 42 plants and office locations and approximately 2 (two) million metric tonnes processed annually, SMI is a major glass recycler with a presence across North America.
Subject to receipt of U.S. regulatory clearances and the satisfaction of other customary closing conditions, the transaction is expected to close towards the end of Q2 2024 or early Q3 2024.
“We are excited that our offer to acquire SMI has been accepted. This transaction, once completed, will significantly strengthen and expand our operating footprint in North America with a resilient, key mineral platform at scale. The inclusion of a major glass recycler in North America into the Sibelco group will be an important step in the development of our activities in this segment outside of Europe, positioning Sibelco as a glass recycling leader in both Europe and North America. We see significant opportunity to develop the SMI business further, which should provide our customers with better access to quality products over time."
Hilmar Rode
CEO of Sibelco
Commenting on the acquisition,
Chris Dods, CEO of SMI
said, “SMI could not have found a better match. Bringing together two long-standing glass recycling leaders from two different continents will elevate SMI’s operational capabilities and product offerings, ensuring continued longevity for our people, partners, and planet.”
