UK-based premium steel manufacturer British Steel has announced that it has completed the purchase of the Netherlands-based premium wire rod manufacturer FNsteel.
According to the company’s statement, the acquisition complements its current capabilities as FNsteel makes different specifications of wire rod to those it manufactures at its Scunthorpe site in the UK, therefore enabling it to improve and enhance its value chain and customer offering.
The acquisition is the latest development in the transformation of British Steel, which employs around 5,000 people in the UK and France. FNsteel employs nearly 300 people in Alblasserdam, near Rotterdam, and will continue to trade under its current name.
Meanwhile, British Steel also stated that it already has a rail mill in Hayange, France, and earlier this year it opened a rail logistics hub in Italy. During recent months, British Steel has also increased its international sales network which includes offices in Spain, Germany, Singapore and the US.