Greek steel stockholders/processors consolidate

Sidma, one of the main Greek steel trading, stockholding and processing players, has confirmed its acquisition of the activities of Bitros Steel, another local trader and processor of steel products, Kallanish learns.

Sidma is now set to incorporate assets and liabilities of Bitros Steel following completion of the deal last week, the stockholder says in an announcement.

Sidma is part of the Viohalco group and is one of the main steel processing and distribution companies in Greece. Being part of the same holding, the company has a strategic partnership with Sidenor, the biggest steelmaker in the country.

Bitros Steel is a major processor and distributor of steel products in Greece, focused mainly in the longs market.