Speira, a leading European aluminium recycling and rolling company, has announced a record investment that will transform the company’s operations.
The company has announced one of the largest industrial investments in the Vestfold province of Norway, financing over NOK 400 million in a new furnace.
The extensive project to install the furnace at Speira’s Holmestrand foundry is expected to be completed by the summer of 2026.
Jon Gaasholt, plant manager at Speira Holmestrand, commented: “This investment secures a large number of jobs in Holmestrand for the foreseeable future.
“The old furnace has been in place for 50 years, and the new one is expected to last at least another 50 years. This is very good news.”
Enhanced aluminium recycling capabilities
Speira’s supervisory bodies have approved a NOK 414 million investment for a new furnace at the Holmestrand foundry.
The new furnace, a long-desired addition, will allow Speira to process an additional 22,000 tonnes of scrap annually.
This will enable approximately half of the site’s production to be based on recycled materials.
Gaasholt said: “Investment in new equipment is crucial for Speira to remain competitive in the future.
“The new furnace will help cement our position as a leading player in rolled and recycled aluminum products.”
Environmental benefits
This upgrade will significantly reduce the carbon footprint of Holmestrand aluminium recycling operations by 150,000 tonnes of CO2.
It will also decrease NOx emissions and odours and is designed for a future transition to non-fossil energy, further cutting emissions.
“We have a stated goal of setting the standard for sustainability in our industry. It is about being strongly connected to the community where we work and live and being conscious of the role we can play in securing a sustainable future.
“Optimisation of production, processing, and recycling are key in this context,” added Gaasholt.
Continued investments
Since its spin-off from Hydro in 2021, Speira has invested nearly NOK 600 million in Norway, acquiring modern equipment for both Holmestrand and Karmøy facilities and upgrading several production lines.
