GFG Alliance have successfully completed the acquisition of the manufacturer, trader and distributor company Steelforce.
The company has a significant share of the Australian steel distribution industry and is responsible for a lot of the steel pipe and tube supply across both Australia and New Zealand.
GFG Alliance Executive Chairman & CEO Sanjeev Gupta said he was looking forward to welcoming Steelforce into the Alliance.
“The acquisition increases our steel distribution capacity by 120,000 tonnes per annum and provides numerous potential optimisation opportunities while supporting our broader steel strategy here in Australia,” he said.
“GFG Alliance businesses, now including Steelforce, play an important role in producing products that are crucial to the Australian building and construction sector.”
The company will continue to operate independently to ensure their expected levels of customer service and quality production continue.
“There will be natural synergies between Steelforce and GFG’s other businesses as they service their respective customer base and markets. However, our intention is to ensure both companies remain trusted suppliers of high-quality steel products to many of Australia’s largest infrastructure projects,” Mr Gupta said.
The acquisition will add almost 250 people to the GFG family while working to create continuous and sustainable growth for Steelforce.