OneSteel Ltd Managing Director and Chief Executive Officer, Geoff Plummer, has announced that OneSteel has acquired Fagersta Group, Australia’s fourth-largest stainless steel distributor. Fagersta generates sales of around USD 70 million per annum through its five sites in Brisbane, Sydney, Melbourne, Shepparton and Adelaide. The 43-year old privately owned business has 60 employees. The acquisition of 100% of equity in Fagersta will be completed on 3 September 2007. OneSteel will continue to run Fagersta as a separate business, using its existing brand, sites and management team under Fagersta’s Chief Executive Officer Jan Persson. The Fagersta business will sit within the Sheet, Coil and Aluminium division of OneSteel’s Distribution business.
