British Steel goes Dutch in new deal to acquire wire rod plant

By Scunthorpe Telegraph | Posted: 6 Oct 2017

The Scunthorpe-based British Steel business is continuing to push its boundaries.

In the latest move, the company has announced it has signed a share purchase agreement for the acquisition of the Dutch-based FNsteel wire rod plant.

Peter Bernscher, British Steel’s chief executive, said: "I’m pleased to say we've signed a share purchase agreement for the acquisition of FNsteel, the manufacturer of premium wire rod products.

"The acquisition would complement our current capabilities as FNsteel makes different specifications of wire rod to those we manufacture in Scunthorpe. It would enable us to improve and enhance our value chain and customer offering.

READ MORE: Scunthorpe-made rail on track for £14.8 billion London project

"When we complete this deal - which is subject to regulatory approval - it’s our intention to maintain employee and production levels in the UK and the Netherlands, and it will be very much business as usual.

"We look forward to welcoming FNsteel’s employees into the British Steel family and I’ve every confidence we’ll build a bright future together.

"I’d like to thank FNsteel’s shareholder, Mahler Investments B.V., for their ongoing support during the sales process and we’re now focused on completing the deal and working in partnership with the management, employees, unions, works council, customers and suppliers."

Manufacturing News
Share Article

Grimsby News

New bid to celebrate what's 'Made Great in Grimsby'

Hull & East Riding News

Plans for 15bn green energy economy for the Humber

Scunthorpe News

New boss promises extra jobs and more production at Scunthorpe steel mill

Your News

Would you want your employees working from home? Read more in our Your News special report