UK stockholder ASD acquires Atlantic Steel assets

Stockholder ASD Limited has acquired the assets of Birkenhead-based plate service centre Atlantic Steel Processing.

Atlantic went into administration earlier this year and initiated an asset sale after weak demand led to cash flow difficulties.

The move marks “a new growth chapter” for ASD under the umbrella of Hierros Añon, one of the largest mill-independent steel distributors in Europe, ASD says. With a site at the Port of Liverpool, ASD will enhance its presence in the UK’s northwest and enable cost-effective distribution to Northern Ireland and the Republic of Ireland markets, it adds.

Additionally, ASD will introduce a new product line to its portfolio – de-coiled hot rolled sheets and reversing mill plate. With expanded capability to stock and de-coil 2,500mm wide coils in gauges from 5mm to 20mm, ASD becomes the only distributor in northern Europe with such an extensive capability, the firm notes.

ASD’s new owner, Spanish group Hierros Añon, also agreed last year to buy Klöckner & Co’s France, UK, Netherlands and Belgium units (see Kallanish passim).

Adam Smith Poland

kallanish.com