The investment comes in the form of a major injection of equity capital into Zimmer Staal, the statement said.
Zimmer Staal is strategically located in the Port of Antwerp, where it operates a purpose-built warehouse with a permanent stock of approximately 60,000 tonnes of hot-rolled heavy plate. The distributor offers various dimensions and grades of heavy plate, including commercial grades and shipbuilding steels.
Triple-S is one of the largest steel service centers in the US, with over 50 locations across North America and a turnover of over 1,000,000 tonnes annually, offering structural steel, tubing, specialty metals and value-added processing in construction, manufacturing and infrastructure.
The substantial increase in equity will provide the necessary liquidity for Zimmer Staal to achieve its goals for further growth in revenue and product range, while the company’s management and workforce will remain unchanged, according to Luc Cools, Zimmer Staal’s managing director.
“The entire Zimmer Staal team are extremely pleased about the investment from our new partners. This influx of capital will allow us to accelerate our development plans,” Cools said in the statement. “Equally important, however, is that we have found partners who understand our business, offer genuine added value and can support us in our strategic direction. We are thrilled to be working with these two leading international steel groups from Europe and America.”
