The world's largest independent steel trader, London-based Stemcor, has announced that it has acquired two thirds of the share capital of Spanish steel service centre Servi-chap 99 SL (Servichap) through a capital increase. The remaining share capital will be held by the existing shareholders, managing director Jose Maria Alonso Gutierrez and minority investor Quipplan Technos SL.
The main processing activities of Servichap are coil slitting and cutting to length for domestic construction, automotive, agriculture and furniture sectors.