ASD completes purchase of Atlantic Steel Processing

UK general steel distributor ASD has acquired the assets of Birkenhead-based decoiler Atlantic Steel Processing out of administration.

The group, now owned by Spain's Hierros Anon, said the acquisition will enhance its presence in the UK's northwest and give it cost-effective access to the Irish markets — previously Ireland was an important region for Atlantic.

Atlantic also introduces new products to ASD, in the form of decoiled hot-rolled sheet and reversing mill plate. Atlantic has the widest decoiling line in Europe, Yoder, capable of processing 2.5m-wide material.

Hierros Anon has been on something of an acquisition spree of late, recently acquiring four country operations from Kloeckner, including ASD in the UK.

Atlantic fell into administration on 3 May, as first reported by Argus.

The business was affected by a difficult UK hot-rolled coil (HRC) and sheet market, and had a lack of cash after a management buyout in 2022. Continued difficult market conditions are likely to see more consolidation in the service centre and decoiling markets in the coming weeks, sources said.

By Colin Richardson