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SIAC swoops for UK structural steel outfit

FINANCE - Purchase of Bison Structures will mean increased imports from Irish subsidiary

SIAC could start importing large pieces of structural steel into the UK from Irish subsidiary Butlers Steel after buying Tetbury-based Bison Structures.

The deal for an undisclosed fee marks a step-up in a fiveyear plan to expand Irish-based SIAC, which has UK glazing, facades, roofing and cladding operations and Bison will run in conjunction with these businesses.

Finn Lyden, SIAC managing director, said: 'For a lot of people the problems are between the interface of the cladding and the structure.

'On traditional contracts it's usually two separate packages but if you put the two together you solve a lot of problems, particularly for project managers.'

Around 60 per cent of SIAC's £170 million-a-year turnover comes from civils work but the Irish group, which employs 900 people, pulled out of UK civil contracting a few years ago.

A third of SIAC's overall workload comes from specialist contracting, including Butlers Steel, which turns over £20 million a year.

Bison Structures, which employs around 70 people, will return to the name the business was formed under in 1971 before joining Bison Group in 1989.

Richard Cooper, managing director of SIAC Tetbury Steel, said: 'The acquisition has given new impetus to everyone within the team at Tetbu ry.'

Turnover at SIAC's new ac-quisition was flat last year at £11.7 million but pre-tax profits grew £221,000 to £663,000 and the business had net assets of £1 million.

Mr Lyden expects workload at SIAC Tetbury Steel to be marginally ahead this year.

He added: 'They are a bit constrained in terms of factory space in Tetbury.

'We will not look for new space but there will be certain projects that will be too big, so we will produce those in Ireland and there will be smaller projects in Ireland that Tetbury can service from the UK.'

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