Gordon Brothers seeks buyers for GCC steel production plant
CAIRO, 1 days ago
Gordon Brothers, the global asset experts with headquarters in Boston, US, has announced that they have been appointed as the exclusive selling agent for a never-utilised two million tonnes-per-annum (TPA) flat and long steel production plant.
The factory is owned by one of the largest and most reputed steel manufacturers in the GCC.
Gordon Brothers pointed out that through this sales offer, it is giving buyers a chance to fast-track their entry or expansion into the growing market for high-quality steel products.
Originally purchased in 2007 from Posco to enhance the seller's manufacturing capacity, the plant assets include 10,200 cases weighing over 53,000 tonnes.
Delayed by the 2008 financial crisis and further postponed due to the Covid-19 pandemic, the equipment has remained unused, crated and stored according to OEM recommendations, said Gordon Brothers in its statement.
"This is a once-in-a-decade opportunity to fast track the setup or diversification of a small-to medium-sized steel production plant," remarked Nicholas Schofield, Senior Director, Commercial & Industrial at Gordon Brothers.
With market conditions stabilizing, the owners decided not to proceed with their initial expansion plans, thus making this advanced, near-complete steel production setup available for sale, he stated.
"With this unutilized flat rolling steel output module, buyers can quickly enter the rolled steel market while avoiding the lengthy lead times and risks associated with commissioning new equipment," explained Schofield.
"The equipment is upgradeable with modern electronics, ensuring this package meets current production standards and offers the buyer long-term value." he noted.
According to him, the plant will be apt for steel producers and large-scale manufacturers aiming to accelerate their diversification plans and meet the growing demand for high-quality steel across various sectors.
The plant's potential outputs include hot-rolled coils, cold-rolled sheets, steel rods, structural beams and rebar, catering to industries such as automotive, construction, infrastructure and manufacturing, he stated.
With the capacity to deliver a wide variety of products, this facility can help purchasers rapidly diversify and enhance their supply chain capabilities while remaining cost effective in competitive international markets, he added.
Phillip Weston, Director, Commercial & Industrial at Gordon Brothers, said it has already received strong interest from buyers and was impressed by the level of interest globally.
"This is the final chance for an enterprising steel mill owner to secure a near-complete, unused package of equipment ideal for tapping into the growing demand for flat rolling steel," he added.-TradeArabia News Service
