Yorkshire-based Rainham Steel (www.rainhamsteel.co.uk), a steel stockholder and distributor that is one of Scunthorpe’s largest employers, has acquired the 14-acre former Pet Polymers site on Flixborough Industrial Estate.

It is expected to use the land as a storage depot to take advantage of its location next to the M181 motorway and its wharf access to the River Trent and the River Humber.

Duncan Willey, the chartered surveyor who completed the deal on behalf of PPH Commercial, said: “This acquisition suggests that the company remains ambitious and keen to grow.”