Gestamp to acquire a 33.3% stake in the Gescrap Group.

Gestamp, a multinational specialized in the design, development and manufacture of highly engineered metal components for the automobile industry, agreed to acquire a 33.3% stake in the Gescrap Group, a multinational company dedicated to the recycling of metals and total waste management for the industry and the management of high-quality scrap. Financial terms were not disclosed. "We are convinced that this is an important milestone in the company's history. Gestamp as a strategic partner is going to reinforce our commitment to leadership in new business opportunities in the world of the circular economy and recycling, sectors which are certainly in full growth,” Iñaki Velasco, Gescrap Founder and CEO.