UK-based steel service centre USP completed its eagerly awaited purchase of decoiler United Steels in Dudley on 9 August.
The acquisition will increase USP's hot-rolled purchasing capacity to around 250,000 t/yr, USP chief executive Glyn Costigan told Argus. "This strategic purchase is just the next step in our ambitious plans. United Steels' brilliant range of processing capabilities for decoiling and slitting will further support planned growth and of course increase the stability of our group structure," Costigan said.
The combined company will be one of the largest independent service centres in the UK. United Steels managing director Mark Unitt will receive a stake in the business, and will continue in his role as managing director.
United Steels processes coils from 1,000-2,100mm wide and 0.4-25mm thick. Its profit before tax was £83,714 ($108,000) in 2023, down from over £983,000 a year earlier, according to its Companies House filings.
USP was founded in 2016 by Costigan and has grown exponentially since then. It buys as much as 15,000 t/month of hot-rolled coil.
