Marubeni-Itochu Steel Inc.(MISI) has acquired the entire share capital of the Barclay & Mathieson Ltd (B&M Group).
Barclay & Mathieson Group includes the divisions B&M Steel, B&M Architectural, Steel Plate and Sections (SPS), Industrial Metal Services (IMS), Avon Steel and Abram Pulman Steel.
Marubeni-Itochu Steel Inc. (MISI), based in Tokyo, Japan employs over 10,000 people, has a presence in 90 countries, is one of the largest steel suppliers in the world, with revenue in excess of £16.5billion per year and total assets approaching £10 Billion pounds.
MISI is a major supplier of steel products and have divisions in Oil & Gas, Automotive, Shipbuilding, Civil Engineering, Construction & Electrical Appliances along with renewable energy.
MISI plans to grow presence within the UK and European markets and the acquisition of the B&M group will add real value adding businesses to its existing portfolio. With plans to invest significantly post acquisition it will be an exciting opportunity to expand and grow further globally.
Tatsuhiko Toshita President & CEO of Marubeni-Itochu Steel Inc. said “MISI are the instant, global supply solution, our worldwide infrastructure will help us catapult the B&M group to the next level”
Mike Walton CEO Barclay & Mathieson Group said “It’s an exciting time for the B&M Group, with further plans for growth in the UK & the rest of the world, the backing of our new parents and the significant resources both financial and operational will enable us to deliver those goals”