Sibelco, a global leader in material solutions and the European leader in glass recycling, has announced the acquisition of Strategic Materials, Inc. (SMI), a prominent glass recycler in North America. SMI operates across the United States, Canada, and Mexico, producing glass cullet for various manufacturing sectors. This move allows Sibelco to expand its glass recycling leadership beyond Europe and strengthen its presence in North America.
The acquisition of SMI, with 42 plants and approximately 2 million metric tonnes processed annually, will enhance Sibelco’s footprint in North America. The transaction is expected to close by early Q3 2024, pending regulatory approvals.
Hilmar Rode, CEO of Sibelco, expressed excitement about the acquisition, citing the opportunity to develop SMI’s business further and provide customers with better access to quality products. Chris Dods, CEO of SMI, also welcomed the acquisition, highlighting the synergies between the two companies.
Sibelco, known for mining and processing specialty industrial minerals, including silica and clays, is committed to supporting various industries with its solutions. With production facilities in over 30 countries and a team of 5,000 people, Sibelco aims to drive the progress of modern life.
SMI, with a 125-year history, is a trusted partner in glass recycling, offering economical and environmentally viable recycled products. The company’s focus on advocacy, operational excellence, and partnership has made it a key player in the industry.
The acquisition is being facilitated by financial advisors and legal counsel from both Sibelco and SMI. Lazard and Latham & Watkins represent Sibelco, while Ankura Consulting Group and Arnold & Porter represent SMI.
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