Barrett Steel plans to buy UK distribution sites from British Steel

Barrett Steel plans to buy UK distribution sites from British Steel
Barrett Steel plans to buy UK distribution sites from British Steel
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The largest steel stockholder in Britain today revealed that it plans to acquire a number of British Steel distribution centres.

Barrett Steel has confirmed its intention to purchase a number of British Steel distribution centres, immediately after the planned sale of British Steel to the Chinese company Jingye.

Barrett Steel said it is hopeful of securing a number of British Steel Metal Centre sites including those based in Wolverhampton, Dartford, Newcastle and Scunthorpe alongside offices in Cheadle and Edinburgh.

The statement added: "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 was formed in 1866 and has expanded organically and by acquisition.

The company operates from 27 sites in the UK. It has four main business divisions: general steel, engineering, tubes and international.

The company had a turnover of £328m in the last financial year and employs 1,100 employees.

Earlier this month, a Government spokesman said the deal with Jingye to buy British Steel, which includes a large plant in Scunthorpe, remained on track.