Metal Master established to relaunch Aura in L'Aquila

Metal Master has been established to manage the relaunch and creditor liquidation of Aura, a ferrous metal recycling company based in the Tecnopolo d’Abruzzo in L'Aquila. The company was formed following a court procedure that assigned ownership to Stemin Spa, a member of the Fecs Group, through a binding offer of 4 million euros.

Metal Master is majority-controlled by Stemin Spa, a national and European player in aluminum and metal recycling, with the local Circi Group holding a minority stake. The company has a fully paid-in share capital of 100,000 euros.

Key priorities for the new entity include reaching agreements with creditors and implementing a plan to reabsorb approximately 50 employees. Preliminary meetings with labor unions have already commenced. Olivo Foglieni, head of Stemin, stated that the industrial plan aims to establish L'Aquila as a significant national and international production site.