UK-based steelmaker Acenta Steel reached a GBP 23 million ($29 million) refining deal with HSBC bank to invest in inventory and expand its footprint in Europe and the US and start exporting to Eastern Europe, Mexico and Asia.
"Refinancing with HSBC means we can focus on growing our business in the UK and overseas, with the financial support of a well-connected and established bank,” said the company’s chief operating and chief financial officer, Colin Mills.
According to several media reports, Acenta Steel processes and distributes hot rolled and bright engineering steel bars, while operating a supply chain providing stock-holding, cutting and distribution facilities across the UK.