Monday 12th August 2019
GFG Alliance today successfully completed the acquisition of Steelforce, a vertically integrated manufacturer, trader and distributor of steel pipe and tube across 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.
“GFG Alliance businesses, now including Steelforce, play an important role in producing products that are crucial to the Australian building and construction sector.
Steelforce will continue to operate independently ensuring their high levels of customer service and quality production continue – complementing GFG Alliance’s existing InfraBuild Building Products business.
“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.
Steelforces’ China operations in Dalian represent a further expansion of GFG Alliance’s industrial footprint in China where it already has aerospace service centres at Suzhou and Xian and will strategically complement existing trading offices located in China.
The acquisition will add 249 people to the GFG family and, as with all its acquisitions, GFG will work to create sustainable growth for Steelforce – supporting its teams and the communities they operate in.