Stemcor acquires the assets of Chesterfield Steels Group

Stemcor, the world’s largest independent steel trader, has acquired certain of the assets of Chesterfield Steels Group - comprising Chesterfield Steel Services Limited and Chesterfield Special Steels Limited - which went into administration on July 21st. The assets, purchased from administrators Ernst & Young, will be controlled by a new company, Stemcor Special Steels Limited.

Chesterfield Steels Group, an engineering steels stockholder with stocks in Singapore, the UAE and the UK, specialised in high grade steel products for the oil & gas market. In addition to serving the oil & gas market, Chesterfield Steels Group supplied a range of engineering steels and forgings for a variety of original equipment manufacturers and machine shops.

Stemcor’s existing energy sector businesses are Steel Plate & Sections, a stockholder (also with stocks in Singapore, the UAE and the UK) which offers high value steel plate, sections and tubes for the offshore oil and gas industry, and Stemcor’s OCTG  business which trades steel casing, tubing and drill pipe. Stemcor also has existing engineering steels stockholding businesses in Australia, France, Germany and Spain.

Stemcor Special Steels and Steel Plate & Sections are currently exhibiting at Offshore Europe 2009 in Aberdeen.