Following the Jingye Steel acquisition of the main UK steelmaking and processing sites of British Steel last week, stockholder Barrett Steel has acquired British Steel’s distribution sites across the UK.
Barrett completed the acquisition early last week, the company says. It is now trading as Barrett Steel North East from Newcastle, Central Steel Services from Wolverhampton and Barrett Steel Dartford. The Scunthorpe, Edinburgh and Cheadle locations are being merged into existing depots. These depots will be integrated with Barrett Steel’s nationwide depot network, Kallanish notes.
This now means that the stockholder will now operate in 30 locations cross the UK. 75 employees will transfer across from British Steel to Barrett, the company confirms.
“This acquisition provides a great opportunity for the group. We are excited to welcome the British Steel teams to our business and we are positive about the future of the steel industry,’ says group managing director James Barrett.