October 08, 2008

Stemcor acquires UK steel stockholder Barclay & Mathieson

World’s largest independent steel trader Stemcor announced that it has acquired 100% of the share capital of UK steel stockholder Barclay & Mathieson Limited.

Barclay & Mathieson is a general steel stockholder with 12 depots concentrated in the Midlands, North of England and Scotland. Through an associate company also acquired by Stemcor, Barclay & Mathieson offers processing services, general fabrication work and structural steelwork.

Mr Jim Walker managing director of Barclay & Mathieson will remain in place and oversee the change of ownership. Barclay & Mathieson’s existing management team will be retained.

Mr Ralph Oppenheimer chairman of Stemcor said that “Barclay & Mathieson is an established stockholder with a 130 year history and a solid reputation in the UK market. I believe that the business has strong prospects as part of Stemcor’s growing distribution and stockholding business.”

The acquisition strengthens Stemcor’s stockholding footprint in the UK and builds on last year’s purchase of Steel Plate & Sections Ltd.