MetalX and Manna Capital to Build Aluminum Rolling Slab Facility

FORT WAYNE, Ind., April 13, 2023 /PRNewswire/ -- In a joint release, MetalX and Manna Capital Partners announced plans to invest over $200 million in a new greenfield aluminum rolling slab facility in northeast Indiana, northwest Ohio, or southern Michigan.

The facility will be designed to produce 220 million pounds (100kmt) per year of ultra-low carbon aluminum rolling slab with a higher percentage of recycled content than is currently available. The product mix will be focused primarily on alloys for the beverage, packaging, and auto industries, and to a lesser extent, industrial and specialty markets. The plant is expected to become fully operational in the first half of 2026 and will employ approximately 100 people.

Combined with a state-of-the-art MetalX processing operation and a dedicated logistics center by Page Trucking, the industry leader in full-service transportation, the rolling slab facility will anchor the development of a $300 million greenfield recycling campus where innovative closed-loop recycling solutions will support the aluminum industry's sustainability and circularity goals.   

About MetalX

MetalX is an independent metals recycling business founded in 2012 by Danny and Neal Rifkin, third and fourth generation members of the Rifkin family, whose history in the industry is well-known.  MetalX is engaged in nonferrous scrap processing, consulting & management services, and the application of new technologies for aluminum and copper recycling. The company is headquartered in Fort Wayne, Indiana. For more information, contact Michelle Shakoor at mshakoor@metalx.net or by phone at 260.232.3031.

About Manna Capital Partners

Manna Capital Partners is a private investment firm founded by Junior Bridgeman and Kevin Attkisson. The firm focuses on investment and acquisition opportunities across multiple industries in the U.S. and internationally, including investments in sustainability and impact-oriented opportunities for minority and women owned businesses and communities. For more information, contact Manna Capital Partners at info@mannacappartners.com or by phone at 502.805.1329.

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SOURCE MetalX