ParkerSteel stocks and service unaffected by British Steel insolvency

Dear Customer, As you may have seen the news reports that have just broken on British Steel, the courts have granted an application by the directors to enter into insolvency. The Government’s Official Receiver will now run a compulsory liquidation process, casting severe doubts over the future of its operational presence in the UK. It is a very difficult time for the industry, with a number of families directly affected by the large number of jobs placed at risk. Having already received concerned calls from our customers regarding the potential stock shortages and disruptions this may cause, please rest assured, that while many UK Stockholders utilise British Steel as a key supplier and may be impacted, for ParkerSteel this is not the case. Our independent port facility at Shoreham on the South coast gives unrivalled access to steel imported from international sources, as such, our stocks from our key suppliers will be unaffected. Current stocks at both our Canterbury and Shoreham depots are plentiful, and scheduled deliveries with our suppliers will be unaffected by the published issues relating to British Steel. Given the disruption this is likely to cause in the wider market, steel prices inevitably will be rising to compensate – these are likely to be significant in the short term and we urge all customers to react accordingly when tendering for new works. As always, should you have any concerns, or future projects you wish to discuss or secure please contact your dedicated Account Manager, whom are fully briefed to advise you on material requirements. Yours sincerely Dylan Alexander Commercial Director