Business sets its sights on British Steel distribution centres
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Bradford-headquartered Barrett Steel, the largest UK stockholder of this metal, has confirmed its intention to buy British Steel distribution centres immediately upon the sale of British Steel to Jingye.
Barrett Steel, which employs 1,100 people, says it is hopeful of securing a number of British Steel Metal Centre sites including: Wolverhampton, Dartford, Newcastle and Scunthorpe alongside offices in Cheadle and Edinburgh.
A Barrett Steel spokesman said: “We are currently awaiting the sale of British Steel to be finalised.
“Discussions are continuing, but we would like to clarify that the sale between Jingye and Barrett’s will only be completed once the sale between British Steel and Jingye is confirmed.”
Barrett Steel, which was formed in 1866, operates from 27 sites in the UK with four main business divisions: General Steel, Engineering, Tubes and International.
It reported a turnover of £328m for the year ending 30 September 2019 and has completed £50m worth of acquisitions over the last seven years.