Major UK steel stockholder Barrett Steel says that it intends to purchase a number of distribution centres currently being operated by troubled long products manufacturer British Steel.
This would happen immediately upon the sale of British Steel to Chinese steelmaker Jingye, Barret Steel says in a statement monitored by Kallanish.
The stockholder is hopeful of securing British Steel Metal Centre sites including those in Wolverhampton, Dartford, Newcastle and Scunthorpe, alongside offices in Cheadle and Edinburgh.
“We are currently awaiting the sale of British Steel to be finalised. Discussions are continuing, but we would like to clarify that the sale between Jingye and Barrett’s will only be completed once the sale between British Steel and Jingye is confirmed,” the statement reads.
The stockholder has been in business for 150 years and operates 27 sites across the UK. It stocks carbon steel flat, long and tubular products whilst also supplying a range of engineering steels including tool steels and alloy steels.
