Heneken acquired magnesium recycling plant in Montreal
Slovak metallurgical holding Heneken (Michal Hudoba) acquired MTR, a magnesium recycling plant in Montreal, Canada. The price of the plant, with an annual capacity of 10,000 cubic meters, was not disclosed, but reflected its poor condition. The new owner now has to restructure the plant and invest in new technologies. Its production is directed to aerospace and defense suppliers in Canada and the US. MTR is Heneken's sixth production plant, with three in Slovakia and others in Turkey and South Africa. It is also building a new plant in Serbia. Last year, Heneken's sales reached €530m and profits €10m.