Aluminium is one third the weight of steel and Ullrich Aluminium, founded in 1961, has been making strong headway with 20,000 customers.
Ullrich Aluminium has its headquarters in Auckland and has been family-owned since 1961 when it was set up by founder William Ullrich. Its chief executive is one of his sons, Gilbert Ullrich.Vulcan Steel chief executive Rhys Jones says Ullrich Aluminium has been a “very well run business for a very long time”.Vulcan Steel is paying $NZ165 million for a business which had annual turnover of $NZ270 million.
He said the operations would be rebadged as Vulcan Ullrich Aluminium. The Australian operations of Ullrich Aluminium make up about two thirds of the company’s total revenue.Ellrich Aluminium also operates its own trucking fleet to deliver to about 20,000 trading customers. Vulcan Steel has a similar model, running its own trucks to deliver to its 12,000 customers.Vulcan Steel’s issue price in its float last year was $7.10 on the ASX. The shares reached as high as $10.
“This is very much in our sweet spot,” he said. Ullrich Aluminium distributes about 18,000 different products.There is a push on around the world in the production of aluminium to cut emissions. The aluminium industry is estimated by experts to represent about 2 per cent of the world’s carbon emissions. The steel production industry
The big players in aluminium are looking to new technology in the ambitious race to try to produce batches of near zero carbon aluminium.Mining giant Rio Tinto earlier this week struck a global deal with Ford Motor Company to develop and supply battery and low-carbon materials, such as aluminium, lithium, and copper, to be used in Ford vehicles including the next generation of lightweight, electric trucks.
The near carbon-free aluminium – made using Canada’s abundant hydroelectricity and the ELYSIS smelting process that employs non-carbon anodes to electrolyse raw alumina – could be used in Ford’s next-generation all-aluminium electric truck. Rio already supplies Ford with the aluminium used in its popular, lightweight F-150 truck.writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.
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