Barrett Steel acquiring British Steel distribution sites

Bradford’s Barrett Steel, the UK’s largest steel stockholder, has confirmed its intentions to acquire several distribution centres owned by the beleaguered British Steel.

The acquisitions will occur immediately upon the sale of British Steel to Chinese industrial giant, Jingye.

Barrett Steel said it is “hopeful” of acquiring British Steel Metal Centre sites in Wolverhampton, Dartford, Newcastle and Scunthorpe alongside offices in Cheadle and Edinburgh.

A statement from Barrett Steel said: “We are currently awaiting the sale of British Steel to be finalised. Discussions are continuing, but we would like to clarify that the sale between Jingye and Barrett’s will only be completed once the sale between British Steel and Jingye is confirmed.”