In a $1 billion deal, General Motors will sell its aluminum scrap to Imco Recycling, and buy 2 billion pounds of recycled aluminum back over 13 years.
Its vehicle aluminum content is projected to rise by 7 percent annually.
Ford Motor Co. is getting into the recycling business with its purchase of a Tampa, Florida automotive recycling company. The company intends to become the world’s largest car-parts recycler and plans to buy dozens of similar businesses across the U.S. in the coming months. The company projects annual revenues of $1 billion within five years.
The Ford subsidiary will dismantle all types of vehicles and sell the parts over the Internet to body shops, insurance companies and consumers. Eventually, Ford plans to expand the business to Europe, Asia and Latin America. It also intends to increase the recyclable content of its cars from today’s 75-80 percent level to 90 percent or more.
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