The UK’s All Steels Trading has announced in a statement monitored by Kallanish that it has recently completed the acquisition of Bromford Iron and Steel in West Bromwich in the West Midlands.
Bromford is a producer of hot rolled long products and employs 36 people at its site in Oldbury. As well as being a leading producer of hot rolled steel profiles for horseshoe manufacture, the company is a major supplier to other sectors including oil and gas and chain-making, All Steels says.
“The company has benefitted from regular and extensive investment in new plant and technology to ensure that Bromford’s product quality, flexibility and ability to produce small tonnages…” the Yorkshire-based trading company adds.
The acquisition of Bromford Iron & Steel offers “… excellent synergy with All Steels Trading’s other UK steel related businesses, but especially with our Wolverhampton-based Special Steel Sections re-rolling mill,” All Steels trading comments. “As a bulk international steel trader, we have the critical mass to obtain extremely competitive raw materials prices and these price savings will inevitably enable Bromford to sustainably grow and fulfil capacity,” it adds.
No information was forthcoming on either the value of the acquisition or Bromford’s current financial or production figures. However, in its latest available financial accounts, Bromford had a turnover of £9.63 million ($11.9m) in its fiscal year ending 31 March 2018. This generated a loss after tax of £264,859.