ArcelorMittal has signed an agreement to acquire Polish scrap metal recycling business Zakład Przerobu Złomu. Zlomex operates scrap yards in Krakow and Warsaw which last year processed and shipped almost 400,000 tonnes of ferrous scrap metal. Zlomex supplies a range of steel mills and foundries with well-established relationships and has also been a long-standing supplier to ArcelorMittal’s steel plants in Dąbrowa Górnicza and Warsaw. Zlomex is focused on ferrous scrap metal and has in 2022 expanded its Krakow operations with the installation of a new shredder and separation equipment and has invested into an enlargement of its Warsaw yard. Transaction closing, which is subject to customary regulatory approvals, is expected during the first half of 2023. This is the fourth scrap metal acquisition ArcelorMittal has undertaken in Europe during 2022, as the company continually seeks to enhance its ability to source scrap steel, a key raw material which supports the company’s ability to reduce its carbon emissions.