Spain-based Hydnum Steel has announced that it has signed a memorandum of understanding (MOU) with Europe-based steel processing and distribution company Knauf Interfer, to collaborate on the supply of green steel, the creation of a green supply network and on scrap recycling.
Under the MoU, Knauf Interfer will procure green steel worth about €80 million per year from the Spanish steelmaker. Moreover, both companies will create a green steel supply network, benefitting from Knauf's production and supply chain hub in Germany and serving customers in central European markets. They are also considering collaborating on steel processing in the future, under which Knauf will offer cutting, segmentation and re-coiling services customized for Hydnum's customers.
Additionally, the partners plan to create a circular economy to recycle scrap together. As a result, scrap generated by Knauf will be recycled at Hydnum's Puertollano plant.
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