Stemcor buys steel service centre in Portugal

On March 29, London-based Stemcor, the world's largest independent steel trader, announced that it has acquired Portuguese service centre Semi-Produtos de Metais, Lda (Semimetais) from German-based Wieland Group, in line with its aim to expand downstream in the steel supply chain and to add value to its domestic service offering.
 
Accordingly, Semimetais stocks a range of cold rolled, pickled and oiled and zinc coated steel coils and offers cut to length and slitting facilities with processing capacity of 30,000 mt per annum. From its base in Gaia in northern Portugal - between the ports of Aveiro and Leixoes - and with warehouse facilities in Lisbon, Semimetais serves over 500 customers nationwide. The business is focused primarily on steel but also sells aluminium, brass and copper products. The main supplier of steel is Eurosteel Portugal, Stemcor's import distribution business in Lisbon.
 
The financial details of the deal have not been disclosed.