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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Base Grp. | LSE:BS. | London | Ordinary Share | GB0000566389 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.04 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 5459t BRITISH STEEL PLC 16 September 1999 BRITISH STEEL AGREES #83 MILLION PURCHASE OF SOGERAIL British Steel has reached agreement with the French steel group Usinor for the purchase of Usinor's rail manufacturer, Sogerail, and its associated sales company, Materiel de Voie (MDV). The #83 million cash purchase makes British Steel the world's number one supplier of rail and associated products and services. Commenting on the purchase of Sogerail, Mr John Bryant, Chief Executive of British Steel plc, said, "This is a further example of extending our market presence and manufacturing base in Europe and provides the opportunity to build an even stronger global position in rail products and services in order to strengthen our support for customers. The synergy between the two rail operations is excellent and there are immediate opportunities for global growth." The Sogerail rail mill is based in Hayange, Lorraine and MDV is located in Paris. The company has 520 employees with total annual sales of around 300,000 tonnes. British Steel's existing rail mill is located in Workington, Cumbria, where it employs 460 people and has sales of some 220,000 tonnes a year. A further 740 people are employed in the other businesses of the Railway & Foundry Products group located in Workington, York, Motherwell, and Scunthorpe. Both the UK and French based activities will be run as a single integrated business with Paul Waterhouse as its Managing Director. Note The transaction has been given regulatory approval by the European Commission Further Information Investor & Media Relations +44 (0) 171 314 5503/5502 British Steel END ACQGBUBABBGBGRA
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