Saturday, 26 Feb 2011
Chinese steel producer Anshan Iron and Steel Corporation through Ansteel Holdings Ltd is finalizing their agreement to purchase two thirds of the share capital of UK steel service center USS Ltd. The balance of shares is to be retained by former owners, the Weaver family who will continue to run the company. USS specializes in coil slitting for the construction industry.
Ansteel Holdings Ltd like Ansteel Spain SL is a joint venture company between Anshan and Stemcor.
Based in Halesowen in the West Midlands, USS can slit coils weighing up to 25 tonnes, thickness ranging from 0.33mm to 3.50mm and width ranging from 400mm to 1,525mm. The majority of material slit is galvanized coil mainly direct for end users with some slitting undertaken on behalf of third parties. Typical customers are UK based section rollers serving the construction industry.
Mr Zhang Xiaogang President of Anshan Iron and Steel Corporation said "Anshan is keen to expand its footprint in Europe and is particularly interested in value-adding services that complement the product range. Last year we purchased a 78% stake in Italian steel processor Viganò and now we are making a similar investment in the UK with USS. The Weaver family has extensive experience in the steel service centre business and will be a valuable addition to Ansteel European business."
Mr Julian Verden Group Managing Director at Stemcor the world largest independent steel trader said "We are delighted to enter into this second European joint venture with Anshan, building on the success of Ansteel Spain SL in the Iberian market. In addition to their existing construction and general industrial steel products, Anshan focus on producing high end value added flat products such as metallic coated, color coated and silicon steel."
Mr Anthony Weaver Managing Director of USS said "We are very excited to be working more closely with our new partners, whom we have dealt with for many years. Looking forward we feel that their investment will enhance our customer service and expand our product offering."
Ansteel Holdings Ltd like Ansteel Spain SL is a joint venture company between Anshan and Stemcor.
Based in Halesowen in the West Midlands, USS can slit coils weighing up to 25 tonnes, thickness ranging from 0.33mm to 3.50mm and width ranging from 400mm to 1,525mm. The majority of material slit is galvanized coil mainly direct for end users with some slitting undertaken on behalf of third parties. Typical customers are UK based section rollers serving the construction industry.
Mr Zhang Xiaogang President of Anshan Iron and Steel Corporation said "Anshan is keen to expand its footprint in Europe and is particularly interested in value-adding services that complement the product range. Last year we purchased a 78% stake in Italian steel processor Viganò and now we are making a similar investment in the UK with USS. The Weaver family has extensive experience in the steel service centre business and will be a valuable addition to Ansteel European business."
Mr Julian Verden Group Managing Director at Stemcor the world largest independent steel trader said "We are delighted to enter into this second European joint venture with Anshan, building on the success of Ansteel Spain SL in the Iberian market. In addition to their existing construction and general industrial steel products, Anshan focus on producing high end value added flat products such as metallic coated, color coated and silicon steel."
Mr Anthony Weaver Managing Director of USS said "We are very excited to be working more closely with our new partners, whom we have dealt with for many years. Looking forward we feel that their investment will enhance our customer service and expand our product offering."
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