XEAL completes its €1M environmental investment in one of its silico-manganese furnaces

• This investment is part of the €28m plan announced in 2020 by the new shareholder to develop its 4 strategic axes: safety, environment, asset care, and efficiency and productivity.
• In the ferroalloys division, investments of €3.5 million are planned this year, in addition to the €1.8 million already executed during 2020.  AS OF JUNE the amount invested stood at  1.6 million euros.
• The energy division plans to invest 4.5 million euros in 2021, in addition to the 1.3 million euros already invested last year.AS OF JUNE, the amount invested stood at 700 thousand euros. 

The new shareholder of Xallas Electricidad y Aleaciones, XEAL, undertook to execute an investment plan of 28 million euros between 2020 and 2024, investing 14 million in each of the company's divisions: ferroalloys and energy.

As part of this plan, which began in early 2020, work began last January at Xeal's plant in Cee on the adaptation and expansion of the environmental control systems in one of its SiMn furnaces, which have recently been completed.

This investment, for an amount close to one million euros, is part of the future plan announced by the company to invest 14 million euros in the ferroalloys division over the next five years, in line with its four strategic axes: maximum commitment to health and safety in the performance of its workers' activities; respect for the environment and compliance with environmental regulations; long-term care and maintenance of assets; and greater efficiency and productivity for enhanced competitiveness.

Specifically, in the ferroalloys division, investments of 3.5 million euros are planned for 2021, in addition to the 1.8 million euros already executed during 2020. Between January and June of this year, the company has invested 1.6 million euros, which represents almost 50% of the Plan announced for this year.

In turn, the energy division plans to invest 4.5 million euros in addition to the 1.3 million euros already invested in 2020. Between January and June, 700 thousand euros have been invested in this division, 16% of the total investment announced. Mosy of the work is undertaken during the months of July and August and this division is currently immersed in the execution of a large part of the announced investments.

In total, since the new management team and shareholder joined the company, and as of June 30 of this year, 3.8 million euros have been invested in the ferroalloys division and 2 million euros in the energy division.

These plans, which since the entry of the new shareholder and management team have been implemented regularly and constantly, are also part of Xeal's commitment to the inclusion of ESG (Environmental, Social and Corporate Governance) criteria in its management model and strategy, so that Xeal evolves towards strategies and business models that pursue a social and environmental impact, moving towards a sustainable company.

Maria Couto, XEAL's CEO, stated that "we remain focused on executing our investment plan, improving safety at our plants and enhancing our competitiveness in the market."