North America’s Steel Dynamics (SDI) has acquired UK’s Offshore Stainless Supplies for £35mn ($41.5mn).
Ian Griffiths, chief executive of SDI, told the media on Aug 3 that the deal will establish the company as a major stainless plate processor in the UK and expand SDI’s product portfolio. Once complete, the acquisition is likely to create about 100 new jobs to form a new group company whose name is undisclosed, as of yet.
Offshore Stainless is headquartered in Blackburn with its facility in Walsall, West Midlands, measuring 28,000sqft. It supplies specialized products within the domestic UK and worldwide.
($1=£0.72)