British Steel to buy Dutch wire producer

Posted on 19 Oct 2017 and read 293 times
British Steel to buy Dutch wire producerBritish Steel has signed a share purchase agreement for the acquisition of the Dutch wire producer FNsteel.

Peter Bernscher, British Steel’s CEO (pictured), said: “This acquisition will complement our current capabilities, as FNsteel makes different specifications of wire rod to those we manufacture in Scunthorpe. It will enable us
to improve and enhance our ‘value chain’ and customer offering.

“When we complete this deal, which is subject to regulatory approval, it is our intention to maintain employee and production levels in the UK and the Netherlands, and it will be very much business as usual.

“We look forward to welcoming FNsteel’s employees into the British Steel family, and I’ve every confidence that we’ll build a bright future together.”

British Steel has an annual turnover of £1.2 billion, and its Scunthorpe rod mill employs 300 people; they make wire rod for products ranging from tyre cord and bed springs to paper clips and pins.

FNsteel makes wire rod for specialised products used by the European automotive, construction and engineering industries.

Be seen in all the right places!

Metalex 2017 EUROTOOL 2017 Machine Tool Indonesia 2017 Engimach 2017 Steelfab 2018 Expo Manufactura 2018 Southern Manufacturing 2018 WIN Eurasia 2018 MACH 2018 Intermach / MTA 2018 Metaltech 2018 MTA Vietnam 2018 MTA Hanoi 2018