ANTWERP, Belgium & CHARLOTTE, N.C.--(BUSINESS WIRE)--Sibelco, a global leader in material solutions and the European leader in glass recycling, today completed its purchase of Strategic Materials, Inc. (SMI), one of North America’s largest glass recyclers.
“Sibelco understands our business and shares our passion about the key role of glass recycling in a circular economy. The two companies’ combined expertise and resources will create a true market leader poised for further growth.”
The acquisition positions Sibelco as a key global player in glass recycling, having already established a leading position in Europe. SMI operates 42 sites across North America, processing around 2 million tonnes of cullet (recycled glass) per year. This capacity adds to the 3 million tonnes of cullet Sibelco processes annually at its 24 recycling plants in Belgium, Estonia, France, Italy, Poland, and the UK.
Commenting on the successful completion, Sibelco CEO Hilmar Rode said, “We are delighted to have completed this acquisition. Not only will the integration of SMI enable us to extend our leadership in glass recycling outside Europe, it will also expand Sibelco’s offering in North America beyond our existing high purity quartz business, thereby building a resilient mineral platform at scale.”
SMI employs approximately 800 full-time employees, excluding temporary and contractor workers, at sites in the United States, Canada and Mexico. Its products are used across a range of markets, including container glass, fibreglass insulation, reflective materials, fillers and abrasives.
Chris Dods, SMI President & CEO, commented, “Sibelco understands our business and shares our passion about the key role of glass recycling in a circular economy. The two companies’ combined expertise and resources will create a true market leader poised for further growth.”
About Sibelco
Sibelco is a global leader in material solutions. Sibelco mines, processes and sells specialty industrial minerals – particularly high purity quartz, silica, clays, feldspathics and olivine – and is a leader in glass recycling. Sibelco’s solutions support the progress of modern life and serve industries as diverse as glass, ceramics, construction, coatings, polymers and water purification. The Sibelco Group has production facilities in more than 30 countries and a team of some 5,000 people. Learn more at www.sibelco.com
About SMI
With a 125-year history, SMI is one of North America’s most comprehensive glass recyclers, with 42 locations in the United States, Canada, and Mexico. The company continues to be focused on passionate advocacy, operational excellence, and collaborative partnership. SMI is a trusted partner to cleaner, more efficient glass production, providing customers and suppliers with economical and environmentally viable recycled products and solutions. Learn more at www.smi.com
Advisors
Sibelco is being represented by Lazard as lead financial advisor and by Latham & Watkins as lead legal counsel on this transaction. SMI is being represented by Ankura Consulting Group as lead financial advisor and by Arnold & Porter as lead legal counsel.