The company said this is a strategic geographical acquisition, adding an exclusive and dedicated bulk receipts port facility, which will offer greater flexibility as well as speed of supply to service UK customers.
In addition to the port, the acquisition also sees Barrett Steel acquire extensive processing equipment on the site, including shot blast prime and paint facilities, alongside six additional Ficep Endeavour saw-drill lines.
The move has also seen Barrett Steel welcome over 50 new employees to its team, who transfer employment under the acquisition, thereby securing jobs in the area.
The site will now operate as Barrett Steel Shoreham and Group Managing Director James Barrett commented: “This acquisition allows the Group to develop its presence in the South of England which complements our existing processing hubs in the North. We are excited to welcome the Shoreham team to our business and are positive about the future of the steel industry.”