Stemcor, the world's largest independent steel trader, has announced that it has acquired the assets and business of stockholder Acier Metal SAS in Lyon,
France.
Established in 1955, Acier Metal specialises in cold finished bars for a wide range of engineering applications. The company, which is certified to the ISO 9001:2000 standard, operates out of a facility in the Chassieu area of Lyon and delivers to customers throughout
France. In addition to offering a wide range of products, Acier Metal also offers cutting and slitting services.
Jean-Francois Abitbol, Director of Stemcor
France SAS, said: "Acier Metal is Stemcor's first stockholding investment in
France and adds to our growing stockholding operations in
Germany,
Singapore, The United Arab Emirates, the
UK and the USA. As well as expanding our global stockholding business, this acquisition is a good fit with Stemcor's engineering steels business, which now handles 350,000 mt of special steels annually and serves customers in 60 different countries."