Marine Metals and Marine Steel have officially completed a merger, combining their operations to create a stronger player in the European maritime recycling sector.
The newly consolidated company will leverage the complementary expertise of both firms to streamline services, expand product capabilities, and enhance competitiveness across shipping, shipbuilding, and offshore markets.
Marine Metals has developed a way to cut a ship into slices and blocks with a wire saw. The blocks that are cut off from the ship are then moved to the automated block processing units. These consist of different stations with automated robotic arms. In around eight minutes, a block is then completely processed into clean steel plates. These are then ready for transport to manufacturers, who will turn the yard output into new high-quality metals. Because the entire process is automated, the yard can process more than 50 ships per year.
The two companies have been able to secure new funding through SPDG and Victrix, while Sojitz Corporation and Jansen Recycling Group are converting their commitments into equity. Jansen Recycling also increased its investment in the merged company. Victrix is the family holding company of Virginie Saverys and her children, Basile and Eline, while SPDG is the holding company of the Périer-D’Ieteren family.
“Marine Metals is going to change the way ships are recycled, automatising it and, crucially, upcycling every valuable commodity on board,” commented Basile Aloy, who also heads up dry bulk concern Ebe.
Hugo De Stoop, the former Euronav head, has been named as the CEO of the merged company. Toufitri Akdime has been appointed as the CFO, while Frank Geerdink, the founder of Marine Metals, has been chosen as the CFO and CTO.
“By pooling our resources, we will be better positioned to meet the evolving needs of our customers and drive sustainable growth in the years ahead,” the merged company said in a release.
The integration process is already underway, with a focus on ensuring continuity for existing clients while exploring new opportunities in the global maritime sector.
