German trading company C&F International is to close its Essen headquarters by the end of March, further streamlining its activities, sources close to the company told S&P Global Platts.
Following the closure of its office in Hamburg and the Spanish trading arm in Madrid last year, the Essen office continued to operate the activities of the closed offices, Platts learnt. Sources said a smaller company called S&P Steel Products will now look after the remaining trading business of C&F, which has another main office in Houston, US.
S&P Steel Products, headquartered in Houston, is a trading arm of Mexican industrial and financial group Villacero International, parent company of C&F. C&F, formerly known as Coutinho & Ferrostaal, was acquired by the group in 2012.
Villacero is the largest distributor of steel products in Mexico, and has manufacturing plants, distribution facilities, sales offices and service centers throughout Mexico and the US.
Platts was unable to reach C&F or Villacero for comment despite repeated attempts.
Laura Varriale and Peter Brennan, PLATTS