Wednesday, April 23, 2008

News: Rotherham stainless steel distributor bought by Outokumpu


Finnish international stainless steel company, Outokumpu has acquired the SoGePar Group, an Italian distributor of stainless steel, and with it the Rotherham service centre formerly known as Metalfin UK. Outokumpu will pay EUR 195m in cash and take on debt in the company in the amount of EUR 140m to buy SeGePar from its current owners, the Borromeo family. The SoGePar operations will eventually be integrated with Outokumpu's service centre network. The current SoGePar operational management will continue in their posts. Due to this acquisition Outokumpu's Stock & Processing capacity in Italy and the UK will be in excess of 240,000 tons. In total, with the SoGePar acquisition and the service centre investments announced recently, Outokumpu's global annual stock and processing capacity will increase from the current 300,000 tons to in excess of 740,000 tons by 2010. Metalfin UK was the largest independent stainless steel stockholder in UK and the Rotherham site is thought to employ around 100 people.


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