British steel producer Barrett Steel, based in Bradford, has completed the purchase of the British Steel Metal Center distribution centers, as had been expected for several weeks now. The transaction concerns the sites of Wolverhampton, Dartford, Newcastle and Scunthorpe, together with the Cheadle and Edinburgh offices. As previously reported by SteelOrbis, Chinese group Jingye has purchased most of the assets of British Steel in recent days.
Barrett Steel managing director James Barrett said, "This acquisition provides a great opportunity for the group. We are excited to welcome the British Steel teams to our business and we are positive about the future of the steel industry."
The new assets will trade steel as Barrett Steel North East in the Newcastle-area and as Central Steel Services from Wolverhampton and Barrett Steel in Dartford. The Scunthorpe, Edinburgh and Cheadle locations are being merged into existing depots. Barrett Steel's network now spans thirty locations across the UK.