Houston, Texas-based steel company Triple — S Steel Holdings (Triple — S) has entered into a partnership agreement with the Frankstahl Group steel company, headquartered in Vienna, Austria, to make significant investments in Zimmer Staal, the leading distributor of rolled steel products in Northern Europe, located in Antwerp, Belgium A press release published by Fastmarkets on Tuesday, December 9th.
The investment is being made in the form of a large equity injection into Zimmer Staal, the statement said.
Zimmer Staal is strategically located in the port of Antwerp, where it has a purpose-built warehouse with a permanent stock of approximately 60,000 tons of hot-rolled steel sheets. The distributor offers thick-sheet steel of various sizes and grades, including trade marks and shipbuilding steel.
.Triple — S is one of the largest steel service centers in the United States with over 50 branches throughout North America and a turnover of over 1,000,000 tons per year, offering structural steel, pipes, specialty metals, and additional services in construction, manufacturing, and infrastructure.
According to Luc Kools, Managing Director of Zimmer Staal, a significant increase in equity will provide Zimmer Staal with the necessary liquidity to achieve its goals of further revenue and product range growth, while the company's management and staff will remain unchanged.
"The entire Zimmer Staal team is extremely pleased with the investments of our new partners. This capital inflow will allow us to accelerate the implementation of our development plans," Cools said in a statement. "Equally important, however, is that we have found partners who understand our business, offer real added value, and can support us in our strategic direction. We are very pleased to work with these two leading international steel companies from Europe and America."
Published by: Melissa VandervoortFastmarkets.com
