November 22, 2008

Stemcor acquires US pig iron and scrap distributor Ferrosource

The world’s largest independent steel trader Stemcor announced that it has purchased the assets and business of Ferrosource in the USA. Ferrosource is engaged in pig iron distribution and ferrous scrap brokerage to North American steelmakers and iron makers.

Stemcor said that effective July 1st 2008, the business will operate as a division of Stemcor USA and the previous owner, Mr Stephen Miller will continue as MD of the new division.

Mr Steve Graf director of Stemcor USA said that “We are very pleased that Ferrosource, a company we have worked closely with over the past three years, has officially joined forces with Stemcor. The acquisition reinforces Stemcor’s strategy of developing our raw materials business and adding downstream distribution activities.”