Duferco International Trading Holding SA has bought Meridian Metal Trading Ltd., one of the UK’s largest independent steel stockholders and service centers, Duferco said.
The purchase aims to build on Meridian’s well-established presence in the UK and Irish markets to provide a long-term future for the business, it added.
Duferco announced the completion of an agreement with Meridian and its administrators, Alan Watson Graham and Matthew Ingram from Duff & Phelps, at the beginning of this week.
According to its note, “Meridian Steel Limited will complement DITH’s existing distribution and processing facilities which provide tailored services to a broad cross-section of industries including automotive, oil and gas, mining, residential and industrial construction, OEM, high value engineering uses and white goods manufacturing.” Meridian entered administration on April 2.
Established in 1987, Meridian is headquartered in Dudley, West Midlands, and employs around 170 people across five locations in the UK, comprising service centers in Guildford and Sheffield, and sales offices in Bolton and Newport, south Wales. The company is a leading supplier of galvanized, hot-rolled, cold-reduced, electro zinc and aluminized slit coil sheets and sheared blanks in both drawing and high-strength grades. Its Dudley warehouse has over 150,000 square feet of floor space.
Duferco’s global footprint includes 38 steel service centers with closely integrated trading and production activities. DITH in 2018 handled around 17 million mt of steel and raw materials.
— Annalisa Villa