Madrid, Spain-based Gonvarri Steel Services, a part of Gonvarri Steel Industries, has announced that it has acquired the British company Steel & Alloy.
According to Gonvarri Steel Services, the acquisition of the British company will allow it to strengthen its multinational position especially in the automotive industry.
Steel & Alloy is the biggest steel service center for the automotive industry in the UK, with a 25 percent market share and it is a strategic supplier of the main original equipment manufacturers (OEMs) in the UK with four manufacturing plants in Great Britain and another one in Turkey. The company's turnover amounted to €170 million in 2011.