Metal Exchange Corporation creates new joint venture company, novALmec.

Metal Exchange Corporation (MEC) has announced a new joint venture with Novellini Industries, located in Mantova, Italy. The newly formed company called novALmec presents an impressive aluminium billet supply capability to the European market. Metal Exchange Corporation brings into the venture its worldwide procurement network in aluminium scrap markets, four decades of expertise from its billet casting facilities in the US, and strong billet sales and marketing capability. Novellini is contributing its 22,000mt. state-of-the-art foundry for the production of secondary aluminium billets, including its upstream scrap processing facility and a solid base load demand. The newly formed venture is expanding…