Key people Oppenheimer family Number of employees 2,000 Number of locations 145 (in 45 countries) | Area served Worldwide Founded 1951 Type of business Private company | |
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Services Steel Trading, Shipping and Logistics, Distribution, Stock holding, Finance, Mining and Raw Materials CEO Julian Verden (1 Jan 2013–) Subsidiaries Stemcor Gmbh, Stemcor Pellets Ltd. | ||
Scott macdonald stemcor in 2016 and outlook
STEMCOR - Steel Marketing Corporation, is a British steel trading company. The company is based in London, England, and has 145 business units in 45 countries around the world, employing more than 2000 people.
Contents
- Scott macdonald stemcor in 2016 and outlook
- In business jspl jsw steel eyeing stemcor assets
- History
- Major acquisitions
- Stemcors services
- Global locations
- Financial Crisis
- References
Stemcor is the world’s largest independent steel trader. In 2009 the company was ranked as the third largest privately owned company by turnover in the United Kingdom by The Sunday Times' Top Track 100 list. The company does not own any steel producers, and the majority of the shares are held by the Oppenheimer family.
In business jspl jsw steel eyeing stemcor assets
History
In 1951 Mr. Herbert Coutinho, Majority Shareholder of Coutinho, Caro & Co Hamburg, Germany's oldest large Trading Company ( established in 1895), opened a subsidiary in London and went into a 50/50 % Partnership with Hans Oppenheimer. The German company was sold to J McDermott in 1984, and in 1985 Hans Oppenheimer died passing his 50% ownership of the London company to his children. In 1987 Ralph Oppenheimer negotiated his family's purchase of the remaining 50% of the company. Upon completion of the deal in February 1988 the London company name was changed to Stemcor, an abbreviation of Steel Marketing corporation. In 2007 Stemcor acquired SPS which supplies steel plates to the oil and gas industries.
Presently Oppenheimer's son Ralph is executive chairman, while his daughter Margaret Hodge (Member of Parliament) is a shareholder. Julian Verden is the newly appointed CEO of Stemcor. Stemcor trades around 20 million tonnes of steel and steel-making raw materials employing 2,000 people in a network of 145 business units in 45 countries across the world.
Major acquisitions
Stemcor's services
Global locations
Financial Crisis
In May 2013, Stemcor was faced with a financial hurdle when creditors called in loans totaling more than USD 1B. Since then, Stemcor has been trying to refinance its loans whilst at the same time began a process of restructuring. [1], [2], [3]
As of April 16th, 2015 reports were circulating of a potential buy out from Apollo Group [4]