Sibelco, a global leader in material solutions and the top glass recycler in Europe, has announced the acquisition of Strategic Materials, Inc. (SMI), North America’s premier glass recycling company.
SMI boasts a vast network across the United States, Canada, and Mexico, processing a diverse range of glass materials to produce cullet for various industries.
This move marks Sibelco’s entry into the North American market, aiming to enhance its circular business model; extend its glass recycling dominance outside of Europe.
Bolster its North American presence, adding to its High-Purity Quartz (HPQ) operations.
SMI operates 42 facilities, processing approximately two million metric tonnes of glass annually, solidifying its status as a key player in the region’s recycling sector.
The deal is contingent on U.S. regulatory approval and other standard closing conditions, with an anticipated completion by the end of the second quarter or early third quarter of 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,” said 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.”